A fixed point is a value that remains unchanged under a specific function or transformation. In mathematical terms, if you have a function f(x), a fixed point x* satisfies the equation f(x*) = x*. This means that when you apply the function to the fixed point, you get the same value back. Fixed points are important in various fields, including mathematics, physics, and computer science. They can help in solving equations, analyzing stability in systems, and optimizing algorithms. Understanding fixed points can provide insights into the behavior of dynamic systems and iterative processes.