Final answer:
Chemical equilibrium is a state in which the rates of the forward and reverse reactions are equal, resulting in no net change in concentrations of reactants and products.
Step-by-step explanation:
Chemical equilibrium is a state in which the rate of the forward reaction equals the rate of the reverse reaction. This state is also known as dynamic equilibrium, as the reactions continue to occur but in both directions at the same rate. At chemical equilibrium, there is no net change in the concentrations of reactants and products.