Setting the page status will make the page Public (viewable by anyone on the internet), Private (viewable only to members with Permissions to the page), and Disabled (only viewable by admins with proper permissions (used when building a page)).
Disabled: Hidden from the public. Only those with "Owner" permission can access this page.
Private: Only those with "Owner, Edit or View" permission can access this page.
Public: Anyone can access this page.
When building a page the page status can be set.
To change the status:
Step 1: Log in> Edit Mode> Locate the Page
Step 2: Admin>Permissions