Hi,
This is actually a surprisingly difficult question to answer, depending on how much trigonometry and/or calculus experience you have.
The simplest explanation would be to say that pi is the ratio of a circle's circumference to its diameter. Pi = c/d, where c is the circumference and d is the diameter. Meaning, if you drew a perfect circle, and could VERY accurately measure it's circumference and diameter, you could plug those two numbers into your trillion-digit calculator and you would get pi.
Obviously, that's not going to happen... But that would be ideal. I would recommend the pi Wikipedia page, as it discusses the history and evolution of pi calculations:
http://en.wikipedia.org/wiki/Pi
Enjoy!
-SJ
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