Matter can exist in three physical states - solid, liquid, or gas. Solids have a definite shape and volume, liquids have a definite volume but not shape, and gases have indefinite shapes and volumes. Matter is composed of tiny particles called atoms and can be either elements, compounds, or mixtures. Physical changes alter properties but not identity, while chemical changes create new substances. The document outlines key concepts about classifying and distinguishing different types of matter based on their physical and chemical properties.