Chemical equilibrium is the point in a reaction at which the rate of the forward reaction equals the rate of the reverse reaction, and the concentrations of reactants and products remain constant over time. This balance is essential for reactions involving weak acids and their conjugate bases, like in a titration scenario.
\[ aA + bB \rightleftharpoons cC + dD \]
Here, in a state of equilibrium, the ratio of the products over reactants raised to the power of their stoichiometric coefficients is constant (the equilibrium constant, \(K_eq\)). Equilibrium plays an indispensable role during titration, as we continually shift the equilibrium as we add base to acid. It's the reason why the concentrations of the acid and its conjugate base at the halfway point of a titration are equal, creating a perfect case study for understanding equilibrium in action.