This lecture delves into the fundamental concepts of ligand-receptor interactions, emphasizing their significance in biological systems. The instructor begins by explaining the basic definitions and importance of ligands and receptors, illustrating their interactions through the classic lock-and-key model. Various binding modes are discussed, including the lock-and-key mechanism, conformational isomerism, and induced fit, highlighting how these interactions can vary based on the structural characteristics of the molecules involved. The instructor uses analogies, such as comparing ligands to keys and receptors to locks, to clarify how specific interactions occur. The lecture also covers the quantification of binding affinities, introducing concepts like the dissociation constant (KD) and association constant (KA). The instructor explains how these constants relate to the strength of interactions and provides examples from biological systems, such as hormone-receptor interactions and enzyme-substrate dynamics. By the end of the lecture, students gain a comprehensive understanding of how these interactions are essential for various biological functions and how they can be mathematically modeled and quantified.