Final answer:
Equilibrium is a state in dead organisms or systems where the components or reaction rates do not change, while steady state occurs in living organisms or ecosystems where balance with the environment and amongst organisms is maintained.
Step-by-step explanation:
Equilibrium occurs in dead organisms; it is the state where a system's elements do not change or it is the result of the rates of forward and reverse reactions being equal. On the other hand, steady state occurs in living organisms. This refers to a condition such as in an ecosystem where all organisms are in balance with their environment and each other, or within a cell population where the rate of cell division and death are roughly equal.
An ecosystem can exhibit characteristics of equilibrium, for instance, it can have resistance and resilience, enabling it to maintain equilibrium despite disturbances. A steady state is also observed in environmental processes such as an estuary, where there is a continuous but stable mixture of fresh and saltwater, or in eutrophication, where there's an ongoing process but the overall system does not change drastically unless disturbed beyond its resilience.
In conclusion, while both equilibrium and steady state refer to systems where there is no net change, equilibrium is a term more often associated with non-living systems or chemical reactions, whereas steady state is commonly used in the context of living organisms or ecosystems maintaining balance.