The point at which the supply curve intersects the demand curve is called the equilibrium point. The number of goods and services buyers want to buy (the quantity demanded) is equal to the number of goods and services sellers want to sell (the quantity supplied).

Competition constantly pushes prices up or down, except when the equilibrium point is reached.
Theoretically, at equilibrium there is no competition either to buy or to sell because everyone can buy or sell as much as they wish at the going price.

In the example shown, the equilibrium price is $2 and the equilibrium quantity is 50.