Molar solubility, represented by 's', is the maximum amount of a solute that can dissolve in a given volume of solvent at equilibrium, typically expressed in moles per liter (mol/L). This concept is crucial in understanding how substances interact in a solution and how their solubility can be quantified through the solubility product constant (Ksp). Knowing the molar solubility helps predict how much of a substance can dissolve and informs decisions in various chemical processes.