Final answer:
The triple point is the condition under which a substance can exist simultaneously in solid, liquid, and gas phases at equilibrium, represented by a specific temperature and pressure.
Step-by-step explanation:
The triple point of a substance is the unique combination of temperature and pressure at which the three states of matter (solid, liquid, and gas) can coexist in equilibrium. For example, the triple point of water occurs at a temperature of 273.16 K (0.01°C) and a precise pressure. This specific condition allows water to exist in all three phases simultaneously; solid ice, liquid water, and water vapor (gas). In a phase diagram, the triple point is the point where the solid/liquid, liquid/gas, and solid/gas lines intersect, indicating the only situation where a substance can be at equilibrium in all three states.