This document discusses chemical equilibrium, which occurs when the rate of the forward reaction equals the rate of the reverse reaction in a closed system. It defines the equilibrium constant (Kc) and explains that a high Kc value means a high product yield, while a low Kc means a low product yield. It also describes Le Chatelier's Principle, which states that applying stress to a system in equilibrium will cause the equilibrium to shift to reduce the effect of the stress, and discusses how temperature, concentration, and pressure influence the position and value of equilibrium constants.