It may be tempting to think that once equilibrium has been reached, the reaction stops. Basically, there are three types of any equilibrium: (a) Stable Equilibrium: There is stable equilibrium, when the object concerned, after having been disturbed, tends to resume its original position. Equilibrium can be established for both physical processes and chemical reactions. Along with hearing, the inner ear is responsible for encoding information about equilibrium (the sense of balance), which it does in the vestibule and semicircular canals, structures that are sometimes collectively referred to as the vestibular apparatus (Fig. The chemical equilibrium which involves equilibrium between ions in aqueous solution is called ionic equilibrium. The concentrations of reactants and products remain constant at equilibrium. Types of Economic Equilibrium . Over the 4.5 billion years of the Earth’s history, especially uranium 238, uranium 235 and thorium 232 and members of their decay chains have reached radioactive equilibria between the parent nucleus and the various descendants. Chemistry. As defined in microeconomics – which studies economies at the level of individuals and companies – economic equilibrium is the price in which supply equals demand for a product or service. Equilibrium. This type of equilibrium can be attained by the presence of a catalyst. Homogeneous Equilibrium; Heterogeneous Equilibrium; Homogenous Chemical Equilibrium. In this type, the reactants and the products of chemical equilibrium are all in the same phase. Types of Equilibrium. Types of Economic Equilibrium. This type of equilibrium is particularly important in nature. There are three types of equilibrium, namely stable, neutral and unstable equilibrium. Thus, in the case of a stable equilibrium, there is a … they are at the same temperature. Chemical equilibrium, the state in which the concentrations of the reactants and products have stopped changing in time. 8.42). The forward and reverse reactions continue to occur even after equilibrium has been reached. In microeconomics, economic equilibrium may also be defined as the price at which supply equals demand for a product, in … The stability of equilibrium points is determined by the general theorems on stability. Types of Equilibrium Save & Share Our collaborative and creative team of scientists, educators, and support staff strives to shape and promote science outreach as a set of opportunities for members of our communities to engage with science as a relevant, human endeavor, and to foster a genuine connection with science in our society. Prof. Schumpeter explains the three positions with a simple illustration of a ball placed in three different states. 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