In the fluid mechanics equation P = Patm + pgh, "g" represents the gravitational acceleration, which is approximately 9.81 m/s² directed towards the ground. The discussion also clarifies that in the equation F_b = pVg, "V" stands for volume, particularly relevant for calculating buoyancy. The variable "p" is identified as density, not momentum, confirming that the right-hand side of the equation can be expressed as mg when volume is considered. The conversation emphasizes that these concepts are foundational in fluid mechanics and should be addressed in introductory physics courses. Overall, the participants aim to clarify these fundamental principles for better understanding.