Receptors are protein molecules located in cell membranes, cytosol, and nuclei that bind to ligands such as drugs. Ligand binding alters enzyme activity, ion permeability, and genetic material conformation. Receptors serve dual functions by recognizing specific ligands and initiating biochemical reactions that transmit signals from ligands to intracellular proteins. The interaction between ligands and receptors is characterized by selectivity, based on physico-chemical properties, and affinity, which measures the strength of binding. Agonists elicit pharmacological responses by binding with high affinity and intrinsic activity, while antagonists block receptors through high affinity but lack intrinsic activity. Partial agonists have lower intrinsic activity than full agonists. Inverse agonists produce effects opposite to agonists.