The equation q = c * v defines the relationship between electric charge (q), capacitance (c), and voltage (v) in an electrical circuit. In this context, q represents the amount of electric charge stored in a capacitor, c denotes the capacitance which indicates the ability of a capacitor to store charge per unit voltage, and v is the voltage across the capacitor. This equation is crucial for understanding how capacitors function in RC circuits, especially during charging and discharging processes, where they influence the behavior of current and voltage over time.