The material conditional is a logical connective that represents a relationship between two propositions, typically expressed as 'if P, then Q' or 'P implies Q'. This relationship asserts that if the first proposition (P) is true, then the second proposition (Q) must also be true; however, if P is false, Q can be either true or false, making the overall statement true in either case except when P is true and Q is false. This concept is crucial for understanding truth values and the principles of logical implication.