This document discusses chemical equilibrium, including definitions, concepts, and factors that affect equilibrium. It defines equilibrium as a state where the forward and reverse reaction rates are equal, resulting in constant concentrations. The equilibrium constant, K, relates concentrations or pressures of products and reactants. A system at equilibrium adjusts in response to changes in concentration, pressure, volume, or temperature to partially counteract the change according to Le Chatelier's principle. Temperature particularly affects equilibrium based on whether the reaction is endothermic or exothermic.