What is the page or post status in WordPress?

In WordPress, there are statuses for pages/posts. The status of a page/post determines how WordPress handles that post. For instance, public pages/posts viewable by everyone are assigned the publish status, while drafts are assigned the draft status.

Following are the statuses in WordPress:

• Publish: Viewable by everyone.
• Future: Scheduled to be published in a future date.
• Draft: Incomplete post viewable by anyone with proper user role.
• Pending: Awaiting a user with the publish_posts capability (typically a user assigned the Editor role) to publish.
• Private: Viewable only to WordPress users at Administrator level.
• Trash: Posts in the Trash are assigned the trash status.
• Auto-Draft: Revisions that WordPress saves automatically while you are editing.
• Inherit: Used with a child post (such as Attachments and Revisions) to determine the actual status from the parent post.

Reference from wordpress.org