Explain why this is, using the formula for calculating potential energy in your explanation (PE=mgh)

Answer and explanation; Potential energy is the energy possessed by an object due to its position relative to some other objects. It is calculated by the formula, mgh, as it depends on the gravitational pull, mass and the height of the object. Therefore, it is referred to as the gravitational potential energy as it depends on the gravitational acceleration of a given surface such as earth, moon, etc. The formula for potential energy depends on the force acting on the object. For the gravitational force the formula is P. E. = mgh, where m is the mass in kilograms, g is the acceleration due to gravity (9.8 m/s2 at the surface of the earth) and h is the height in meters.