This video lecture by Prof. Iqbal Haider Bhatti covers the fifth part of Theorem 1.5 from page 4 of SM Yusuf's Calculus textbook and then solves questions 1 and 2 from Exercise 1.1. The main focus is proving the inequality |x+y| ≤ |x| + |y| for real numbers x and y, and demonstrating the principles behind basic algebraic manipulations.