To combine like terms, we will group the \(a\) terms together and the \(b\) terms together.
Starting from:
\[ 5a + (-2a) + 1b + 3b \]
Now, we combine the \(a\) terms:
\[ 5a - 2a = 3a \]
And we combine the \(b\) terms:
\[ 1b + 3b = 4b \]
Putting it all together, the equivalent expression with the fewest possible terms is:
\[ 3a + 4b \]