Explanation:

- In a standard basketball game, each team can have a maximum of 5 players on the floor at one time.

- Basketball rules are established by organizations like the NBA and FIBA, and both adhere to the 5-player team rule during gameplay.

- Option 3: 5 players is the correct answer, reflecting this rule.

- Option 1: 6 players is incorrect as having 6 players would result in a penalty.

- Option 2: 7 players goes against the basic structure of basketball.

- Option 4: 4 players is possible during foul-outs or injuries but not ideal.

- Each team aims to have 5 active players on the court to optimize performance and strategy.