The Identity Property refers to a fundamental concept in mathematics that states certain numbers do not change the value of other numbers when used in operations like addition or multiplication. For addition, the identity number is 0, because adding 0 to any number leaves it unchanged. For example, 5 + 0 = 5. In multiplication, the identity number is 1, as multiplying any number by 1 also keeps it the same. For instance, 7 × 1 = 7. These properties are essential for understanding how numbers interact in arithmetic and algebra.