Point of Intersection:
When two lines cross each other, they intersect at a common point. This point is known as the point of intersection.

Explanation:
When two lines intersect, they share a common point. This point is the exact location where the two lines meet. The coordinates of this point can be determined by solving the equations of the two lines simultaneously.

Example:
Let's consider two lines: Line A and Line B.
- Line A: y = 2x + 1
- Line B: y = -3x + 4

To find the point of intersection, we need to solve these equations simultaneously:
1) Set the equations equal to each other:
2x + 1 = -3x + 4

2) Solve for x:
2x + 3x = 4 - 1
5x = 3
x = 3/5

3) Substitute the value of x back into one of the original equations to find y:
y = 2(3/5) + 1
y = 6/5 + 1
y = 6/5 + 5/5
y = 11/5

Therefore, the point of intersection between Line A and Line B is (3/5, 11/5).

Importance:
The point of intersection is significant in various mathematical concepts and applications. Some key points to understand its importance are:
- It helps in solving systems of equations. By finding the point of intersection, we can determine the values of variables that satisfy both equations.
- It is used in geometry to identify the intersection of lines, rays, or segments.
- In real-life applications, the point of intersection can represent a meeting point, a point of contact, or a point of convergence.

Conclusion:
The common point between two intersecting lines is known as the point of intersection. It is determined by solving the equations of the lines simultaneously. The point of intersection has various applications in mathematics and real-life scenarios.

When the two lines intersect , the common point is called point of intersection because this is the point where lines are cutting each other.