Torque is a vector quantity that measures the force causing an object to rotate around an axis, with applications in everyday life such as turning a doorknob or using a wrench. It can be classified as static, which does not produce angular acceleration, or dynamic, which does, and is mathematically expressed as τ = r x f = r . f sinθ. The net torque acting on an object is crucial for understanding rotational equilibrium, where individual torques cancel each other out.