How do you create a new model in Odoo, and what are the key components you need to define?

from odoo import models, fields

class MyModel(models.Model):
    _name = 'my.model'
    _description = 'My Model Description'

    name = fields.Char(string="Name", required=True)
    description = fields.Text(string="Description")
    active = fields.Boolean(string="Active", default=True)

Key components include:

_name for the model identifier

fields to define data columns

string for labels, required to make it mandatory, and default for default values

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