While some chemical reactions proceed in only one direction, a reaction that is in dynamic equilibrium proceeds in both directions. When a reaction is in dynamic equilibrium, the reaction reaches a state of equilibrium with a certain amount of substrate and product. The reaction is stable, but it is in the process of going back and forth between substrate and product with a given velocity for .
the forward and reverse reaction. In equilibrium, the rate at which the product is being formed is equal to the rate at which the product goes back to the starting material.
An example of dynamic equilibrium is hydrogen (H2) and iodine (I2), both as gases, forms two molecules of HI. At equilibrium, the reaction proceeds both forward and backwards at the same rate.
More Reference Links: http://www.biology-online.org/dictionary/Dynamic_equilibrium http://dwb.unl.edu/Teacher/NSF/C14/C14Links/www.chem.ualberta.ca/courses/plambeck/p101/p01091.htm