It is applicable for both physical and chemical processes at which the rate of forwarding reaction is equal to the rate of the reverse reaction.
It is classified on the basis of reactants and products state are homogenous and heterogeneous equilibrium.
The equilibrium can be studied by varying factors such as temperature, pressure, concentration, catalyst, and inert gases, or by controlling these factors to control the product's yield.
Temperature, pressure, or concentration changes will cause the equilibrium to shift in a direction that reduces or counteracts the effect of the change.
Equilibrium constant:
It is the ratio of the concentration of the products to the concentration of the reactants which is raised to the stoichiometric coefficient.
It has a constant value at temperature, and at this state all the macroscopic parameters such as pressure, temperature, and concentration become constant.