What term describes the point where a product's sales and costs are equal?

The correct term that describes the point where a product's sales and costs are equal is "Break Even." At the break-even point, a business has generated enough revenue from sales to cover all of its costs, which means it is neither making a profit nor incurring a loss. This is a crucial metric for businesses as it helps them understand the volume of sales needed to avoid losing money.

Analyzing the other options provides further context: "Budgeting" refers to the process of planning and controlling financial resources but does not specifically relate to the relationship between sales and costs. "Fixed Costs" are the expenses that remain constant regardless of the level of production or sales, while "Variable Costs" fluctuate with the volume of output. Neither fixed nor variable costs alone can define the scenario where total sales equal total costs, which is specifically captured by the break-even concept.