Groups of similar cells and extracellular products that carry out a common function are called

Tissues

Explanation:

Tissues are a group of cells that mostly have a common origin. These cells are specialized to perform some specific function. These cells and their products together carry out specialized functions. For example, the epithelial tissue is a type of tissue present in the human body. It has the cells that together cover body surfaces and lines body cavities. The cells of epithelial tissue also allow the body to interact with both its internal and external environments. Xylem and phloem are examples of tissues present in the plants.