Predator-prey dynamics refer to the interactions between predators, which hunt and consume other organisms, and their prey, which are the organisms being hunted. This relationship is crucial for maintaining ecological balance, as it regulates population sizes and promotes biodiversity. When predator populations increase, prey populations may decline, leading to a subsequent decrease in predator numbers due to reduced food availability. These dynamics can be illustrated through the Lotka-Volterra equations, which model the fluctuations in predator and prey populations over time. Factors such as availability of resources, environmental changes, and human activities can also influence these interactions, highlighting the complexity of ecosystems.