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This lecture covers the basic concepts of thermodynamic equilibrium, the rules for approaching equilibrium in closed systems, and the definition of thermodynamic potentials. The instructor explains the different types of equilibrium using simple examples and emphasizes the importance of stable equilibrium in thermodynamics. The lecture also delves into the minimization of thermodynamic potentials, such as internal energy, enthalpy, Helmholtz free energy, and Gibbs free energy, to describe how systems evolve towards equilibrium under various constraints like constant volume, pressure, temperature, and entropy. Practical examples, including electrolysis of water and chemical reactions, are used to illustrate the application of these concepts.