Answer
Equilibrium constant signifies that how far the reaction has proceeded at equilibrium.
Larger value of it indicates forward reaction is favored and amount of products is higher at equilibrium.
Smaller value of it indicates backward reaction is favored and amount of products is lower at equilibrium.
Work Step by Step
Equilibrium constant$(K_{c})$ ,for a chemical reaction present in equilibrium,is expressed by the concentrations of products raised to their stoichiometric coefficients divided by the concentrations of the reactants raised to their stoichiometric coefficients which is written by law of mass action.
Equilibrium constant gives us the measure of reactants and products present in equilibrium.Actually it says that how far the reaction has proceeded in equilibrium,but not how fast the reaction reaches the equilibrium.
Large value of equilibrium constant tells us that amount of product is large at equilibrium.
Therefore forward reaction is favored,
Small value of equilibrium constant tells us that amount of products is small at equilibrium.
Therefore ,reverse reaction is favored.