To find the Norton equivalent in a circuit with both current and voltage sources, one must first identify the total current and voltage across the terminals of interest. The Norton equivalent consists of a current source in parallel with a resistor, which can be determined by calculating the short-circuit current and the equivalent resistance seen from the terminals. The discussion also touches on the definitions and differences between Norton and Thevenin equivalents, emphasizing the need to understand the conversion steps for each. Understanding these concepts is crucial for accurately analyzing complex circuits. The conversation seeks clarity on the methodology for deriving these equivalents in mixed-source circuits.