The document discusses chemical equilibrium and reversible reactions. It explains that in a reversible reaction, the reactants can transform into products, and the products can then react in reverse to reform the original reactants. At equilibrium, the rates of the forward and reverse reactions are equal and the concentrations of reactants and products remain constant. Mercury(II) oxide decomposing into mercury and oxygen, and then recombining, is provided as an example of a reversible reaction system at equilibrium. Factors that affect the rate and position of equilibrium, such as temperature, concentration, catalysts and pressure, are also described.