An else statement in Python is used to execute a block of code if the condition in an if statement evaluates to False. It provides an alternative path of execution when the if condition is not met.
if statement: Executes a block of code based on whether a specified condition evaluates to True.
elif statement: Stands for 'else if' and allows for multiple conditional checks within the same if-else structure.
Conditional Expression: Also known as ternary operator, it provides a way to write simple if-else statements in a single line.