The "Happiness Set Point" refers to the idea that each person has a baseline level of happiness that remains relatively stable over time. This concept suggests that while life events, such as achieving goals or experiencing setbacks, can temporarily affect our mood, we eventually return to our set point. Research indicates that genetics and personality traits play significant roles in determining this set point. Factors like positive psychology and mindfulness practices can help individuals raise their happiness levels, but the underlying set point may still influence long-term emotional well-being.