Action-reaction pairs are a fundamental concept in physics, defined by Newton's Third Law of Motion, which states that for every action, there is an equal and opposite reaction. This principle highlights the interactions between objects, emphasizing that forces always occur in pairs; when one object exerts a force on another, the second object exerts a force of equal magnitude but in the opposite direction back on the first object. Understanding these pairs is crucial as they illustrate the mutual interactions in various physical situations.