The document discusses greedy algorithms, which make the locally optimal choice in hopes of finding a globally optimal solution, illustrated through problems like activity selection and the knapsack problem. It highlights the properties of greedy algorithms, including optimal substructure and greedy-choice property, while differentiating between solvable (fractional knapsack) and unsolvable (0-1 knapsack) scenarios. The document emphasizes that despite their simplicity, greedy algorithms are not always guaranteed to yield optimal solutions.