The concept of Conservation of Momentum is a fundamental principle in physics that states that the total momentum of a closed system remains constant if no external forces act on it. Momentum, denoted by the symbol 'p', is the product of an object's mass and its velocity. It is a vector quantity, meaning it has both magnitude and direction.

To understand the significance of Conservation of Momentum, let's consider an example. Imagine two ice skaters standing on a frictionless surface. When they push against each other and then let go, they start moving in opposite directions with equal magnitudes of momentum. According to the principle of Conservation of Momentum, the total momentum of the system (the two ice skaters) does not change despite their individual velocities. This explains why they move away from each other with equal and opposite speeds: the total momentum before the push is equal to the total momentum after the push.

In simpler terms, Conservation of Momentum tells us that if there are no external forces acting on a system, the total momentum of the system remains constant over time. This principle has wide-ranging applications in various areas of physics, including mechanics, fluid dynamics, and even astrophysics.