Define potential energy in the context of simple machines.

Potential energy refers to the energy that is stored within an object due to its position or height. In the context of simple machines, this concept is crucial because many of these machines, such as levers or inclined planes, often utilize the position of an object relative to a reference point, such as the ground, to perform work. For instance, when an object is raised to a certain height, it gains gravitational potential energy. This energy can then be converted into kinetic energy when the object is allowed to fall, enabling simple machines to efficiently transfer and manipulate energy. Understanding potential energy helps in analyzing how machines can perform work based on the position of objects they manipulate.