Enzymes are proteins that act as biological catalysts, increasing the rate of reactions without being used up. The Michaelis-Menten model describes enzyme kinetics, including the maximum reaction rate (Vmax) and substrate concentration when the reaction is at half Vmax (Km). Factors like temperature and pH affect enzyme activity, with optimal temperatures and pH levels before heat denatures the enzyme or pH changes disrupt its structure. Enzyme inhibitors decrease reaction rates by binding to the enzyme's active site (competitive) or altering its structure (non-competitive, uncompetitive).