Let's talk about the Albedo

Give the definition of albedo.

The albedo is the measure of the reflecting power of the surface of a non-luminous body.
It's defined as the ratio of the amount of light reflected by a body to the total amount falling on it.
Albedo values range from 0 for a perfectly absorbing black surface, to 1 for a perfect reflector or white surface.
Albedo is commonly used in astronomy to describe the fraction of sunlight reflected by planets, satellites and asteroids.
Rocky bodies have low values whereas those covered with clouds or ice have high values.
The average albedo of the Moon is just 0.07 whereas Venus, which is covered in dense clouds has a value of 0.76, which is the highest in the solar system!
Earth's albedo is 0.3!

Why is it important to know the albedo of a celestial object?

The albedo of an object provide valuable information about the composition and structure of its surface, while the combination of an object's albedo, size and distance determines its overall brightness.

Reference:
PHILIP’S ASTRONOMY ENCYCLOPEDIA
First published in Great Britain in 1987 by Mitchell Beazley
under the title The Astronomy Encyclopedia (General Editor
Patrick Moore) 
&
http://www.esr.org/outreach/glossary/albedo.html