They intersect precisely at the point you specific. This point is also known as the "origin" of the coordinate system.
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The point (0, 0) where the x-axis intercepts the y-axis is called the Origin.
Because the sun is at its midday high point in the sky, like the 12:00 on the clock. But at 12:00 midnight the moon is at its middle high point in the sky, like the 12:00 on the clock, before it starts going down.
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It marks the origin - the point where the horizontal and vertical axes cross.
Cartesian coordinate system