Final answer:
Enzymes accelerate the rate of biochemical reactions by lowering the activation energy, enabling reactions to occur efficiently at biological conditions. They do not, however, change the chemical equilibrium of a reaction.
Step-by-step explanation:
The statement that enzymes speed up the rate of chemical reactions is true; however, the assertion that they alter the equilibrium point is false. Enzymes are highly efficient biological catalysts that accelerate biochemical reactions without being consumed by those reactions. An enzyme works by lowering the activation energy required for the reaction to proceed, which significantly enhances the reaction rate.
This means that in presence of enzymes, reactions can occur under mild conditions, such as the relatively low temperature of living organisms and low concentration of reactants. However, enzymes do not alter the chemical equilibrium of a reaction; they merely help the system reach equilibrium more rapidly. This is because the equilibrium state is determined by the free energy difference between reactants and products, not by the pathway or catalyst used to reach this state.