The lock and key model is a theoretical framework that describes how enzymes interact with substrates to catalyze biochemical reactions. In this model, the enzyme acts as a 'lock' and the substrate as the 'key', implying that only specific substrates can fit into the active site of the enzyme, leading to a precise and efficient catalytic process. This concept emphasizes the specificity of enzymes, highlighting how their three-dimensional structure is intricately designed to accommodate only particular substrates, thus ensuring that biochemical reactions occur accurately and efficiently.