The equation p = mv defines momentum as the product of mass and velocity, highlighting its significance as a conserved quantity in physics. This conservation is rooted in Noether's theorem, which connects symmetries in physical systems to conservation laws. Momentum is not a tangible entity but a mathematical construct that effectively describes motion and behavior in physical interactions. The relationship between mass and velocity in this context illustrates how changes in either variable affect momentum, reinforcing its practical utility in understanding dynamics. Ultimately, momentum's definition and conservation underpins its importance in classical mechanics.