Buoyancy is the upward force exerted by a fluid on a submerged object, which makes it feel lighter and depends on fluid pressure varying with depth. According to Archimedes's principle, the buoyant force is equal to the weight of the fluid displaced by the object, affecting whether it sinks or floats based on the object's density relative to the fluid. Objects with greater density than the fluid sink, while those with lesser density float, and shapes that displace more water generate more buoyant force, enabling ships to stay afloat.