Final answer:
Potential energy is the stored energy an object has because of its position. Examples include gravitational potential energy for a rock held above the ground and chemical potential energy within chemical bonds.
Step-by-step explanation:
The stored energy an object has due to its position is known as potential energy. This form of energy is not always easy to detect, yet it plays a critical role in various physical phenomena. For instance, an object such as a rock held above the ground possesses gravitational potential energy due to its elevated position. Similarly, in chemistry, compounds contain chemical potential energy due to the positional relationships within molecules and chemical bonds.
Chemical potential energy and the potential energy of a spring are good examples to illustrate how stored energy is related to the position or configuration of an object. The potential energy remains stored until an action, like dropping the rock or releasing the spring, converts it into kinetic energy, which is the energy an object possesses due to its motion.