Final answer:
The balanced chemical equation for this reaction is 2H₂ + O₂ → 2H₂O. The coefficients represent the molar amounts of each substance involved in the reaction. In this case, two moles of hydrogen react with one mole of oxygen to produce two moles of water.
Step-by-step explanation:
2H₂ + O₂ → 2H₂O
Now we interpret the coefficients as referring to molar amounts, not individual molecules. Balanced chemical equations are balanced not only at the molecular level but also in terms of molar amounts of reactants and products. Thus, we can read this reaction as "two moles of hydrogen react with one mole of oxygen to produce two moles of water."