Goods are sellers for a price.
Price is the socially accepted value as fair to effect a transaction.
Economic theory explains that the price of a good in a market economy is determined by the interaction between supply and demand for it. It's an elementary law!
Price is the socially fair value in which the seller is willing to sell and the maker is willing to pay. If the price is too high, the producer will want to sell, but the consumer will not want to buy. Likewise, if the price is low, the consumer will want to buy but the producer will not have the incentive to sell.
Therefore, the fair price is considered an equilibrium price for the transaction of goods and services in an economy.