Governor Limits are runtime limits enforced by the Salesforce platform to ensure that no single process monopolizes shared resources. They prevent runaway code and ensure efficient resource utilization across the multi-tenant environment. These limits cover various aspects like CPU time, SOQL queries, DML statements, heap size, and more. Exceeding governor limits results in runtime exceptions, preventing the operation from completing. Developers must write efficient code and optimize queries to stay within these limits.
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