For the economic concept, see Dynamic equilibrium (economics). In chemistry, A dynamic equilibrium exists once a reversible reaction ceases to change its ratio of reactants/products, but substances move between the chemicals at an equal rate, meaning there is no net change. It is a particular example of a system in a steady state. In 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.