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This lecture introduces the concepts of chemical equilibrium, focusing on the principles of equilibrium, Le Chatelier's principle, and the relationship between free energy and equilibrium constant. It explains how reversible reactions reach a point of equilibrium when the forward and reverse reactions occur at the same rate. The lecture also covers the factors influencing chemical equilibrium, such as concentration, temperature, and volume/pressure. Additionally, it discusses the effects of changing concentrations and pressures on equilibrium shifts. The importance of equilibrium constants and the behavior of reactions under different conditions are highlighted.