Step 1: Understanding the Concept:
The global water budget and geomorphology classify the Earth's surface into terrestrial and marine systems.
Step 3: Detailed Explanation:
Oceans represent the largest reservoir of water on Earth.
Approximately \(70.8\%\) (commonly rounded to \(71\%\)) of the Earth's surface area is covered by water, primarily oceans and seas.
The remaining \(29\%\) consists of landmasses, islands, and continental shelves.
Step 4: Final Answer:
The percentage of the Earth covered by oceans is about \(71\%\).