Conservation of momentum is a fundamental principle stating that the total momentum in a closed system remains constant before and after an event, such as a collision. It is defined by the equation Pinitial = Pfinal, meaning the total momentum of all objects before a collision equals the total momentum after. For example, when a bullet strikes a piece of wood, the combined mass moves at a new velocity after the impact. This principle is crucial for understanding motion in various scientific fields, including mechanics and fluid dynamics. Momentum cannot be created or destroyed, only transferred between objects.