Limits are a mathematical concept used to determine the behavior of a function as the input values get closer to a certain value. They allow analysis of what happens to a function as it approaches a particular value of the variable. Weierstrass formally introduced the concept of limits in the early 19th century by defining the limit notation, although others like Newton and Leibniz had earlier conceived of limiting processes. Examples show how to calculate specific limits, and when the limit results in an indeterminate form of 0/0, derivatives can be used to determine the limit through simplification and applying limit rules.