The equilibrium price is represented by the point where a product's supply and demand curves intersect.

Equilibrium Price

The price at which the number of products that businesses are willing to supply equals the amount of products that consumers are willing to buy at a specific point in time.

Supply

The number of products—goods and services—that businesses are willing to sell at different prices at a specific time.

Demand

The number of goods and services that consumers are willing to buy at different prices at a specific time.