The term "less than or equal to" is a mathematical comparison symbolized by the symbol "≤". It indicates that one value is either smaller than or exactly the same as another value. For example, if we say "5 ≤ 7," it means that 5 is less than 7, and it is also true that "5 ≤ 5" since they are equal. In everyday situations, "less than or equal to" can be used to describe limits or constraints. For instance, if a store has a sale stating "Buy 3 items or less," it means you can buy 0, 1, 2, or 3 items, but not more. This concept helps in setting boundaries in various contexts, such as budgeting or resource allocation.