What is Binomial nomenclature? What is its significance?

Explanation

Biologists follow universally accepted principles to provide scientific names to known organisms. Each name has two components, a generic name and a specific epithet. This system of naming the organism is called Binomial Nomenclature. Classification and grouping were done to facilitate a deeper understanding of the unique characteristics of each organism and its interrelationship among closely related species. It plays a vital role in the arrangement of known species based on their similarities and dissimilarities.