Photosynthesis is the process by which plants, algae, and some bacteria use sunlight, water and carbon dioxide to produce oxygen and energy in the form of glucose. It occurs in two stages: the light-dependent reactions where light energy is captured to make ATP and NADPH, and the light-independent reactions where carbon dioxide is incorporated into organic compounds to make glucose. The rate of photosynthesis depends on factors like light intensity, carbon dioxide concentration, temperature, and amount of chlorophyll present. Photosynthesis is essential as it provides the primary source of energy and organic molecules on Earth.