A dynamic equilibrium is a reversible chemical process in which the forward and reverse rates of reaction are the same. The term dynamic refers to the fact that the forward and reverse rates of reaction are the same, which is pretty much the definition of equilibrium in the first place.
Dynamic equilibrium is an example of a steady state function. For a system in a steady state, presently observed behavior continues into the future. Therefore, once a reaction has reached equilibrium, the ratio of product and reactant concentrations will remain the same even as the reaction continues.
