A Greedy Algorithm is a problem-solving approach that makes the best choice at each step, hoping to find the overall best solution. It works by selecting the option that seems the most beneficial at the moment, without considering the bigger picture. This method is often used in optimization problems, such as finding the shortest path or maximizing profit. For example, when making change for a certain amount of money, a greedy algorithm would always choose the largest denomination available first. While this approach can be efficient and straightforward, it doesn't always guarantee the optimal solution for every problem, such as in the case of the Knapsack Problem.