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Static equilibrium (economics), the intersection of supply and demand in any market; Sunspot equilibrium, an economic equilibrium in which non-fundamental factors affect prices or quantities; Underemployment equilibrium, a situation in Keynesian economics with a persistent shortfall relative to full employment and potential output
For example, a mixture of SO 2 and O 2 is metastable as there is a kinetic barrier to formation of the product, SO 3. 2 SO 2 + O 2 ⇌ 2 SO 3 The barrier can be overcome when a catalyst is also present in the mixture as in the contact process , but the catalyst does not affect the equilibrium concentrations.
Le Chatelier–Braun principle analyzes the qualitative behaviour of a thermodynamic system when a particular one of its externally controlled state variables, say , changes by an amount , the 'driving change', causing a change , the 'response of prime interest', in its conjugate state variable , all other externally controlled state variables remaining constant.
A broader definition of acid dissociation includes hydrolysis, in which protons are produced by the splitting of water molecules. For example, boric acid, B(OH) 3, acts as a weak acid, even though it is not a proton donor, because of the hydrolysis equilibrium B(OH) 3 + H 2 O ⇌ B(OH) − 4 + H +. Similarly, metal ion hydrolysis causes ions ...
In economics, economic equilibrium is a situation in which the economic forces of supply and demand are balanced, meaning that economic variables will no longer change. [ 1 ] Market equilibrium in this case is a condition where a market price is established through competition such that the amount of goods or services sought by buyers is equal ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
It is a particular example of a system in a steady state. In physics, concerning thermodynamics, a closed system is in thermodynamic equilibrium when reactions occur at such rates that the composition of the mixture does not change with time. Reactions do in fact occur, sometimes vigorously, but to such an extent that changes in composition ...
In chemistry, chemical stability is the thermodynamic stability of a chemical system, in particular a chemical compound or a polymer. [1] Colloquially, it may instead refer to kinetic persistence, the shelf-life of a metastable substance or system; that is, the timescale over which it begins to degrade.