Energy is the ability of a body to do work by virtue of its position. What type of energy does this describe?

The statement describes potential energy, which is defined as the energy possessed by an object due to its position relative to other objects or a field of force. This type of energy is based on the object's position or configuration. For example, a rock placed on a hilltop has potential energy because it has the ability to do work if it rolls down the hill due to the force of gravity.

In contrast, kinetic energy refers to the energy of motion; an object in motion possesses kinetic energy proportional to its mass and speed. The terms "maximum" and "minimum" do not specifically relate to a type of energy but rather indicate different states or limits in a quantitative context. Therefore, the correct identification of energy being described in the statement is indeed potential energy, as it directly correlates to the ability of an object to do work based on its position.