Potential Energy: Potential energy refers to the stored energy possessed by an object due to its position or state. It can be thought of as "potential" to do work or change into other forms of energy.
Conservation of Energy: Conservation of energy is a fundamental principle stating that energy cannot be created or destroyed; it can only be transferred or transformed from one form to another. In other words, the total amount of energy in a closed system remains constant.
Elastic Potential Energy: Elastic potential energy is a type of potential energy stored within elastic materials (such as springs) when they are stretched or compressed. This potential energy can be converted into kinetic energy when released.