The rate of reaction, often called the "reaction velocity" is a measure of how fast a reaction occurs. As a reaction proceeds in the forward direction products are produced as reactants are consumed, ...The rate of reaction, often called the "reaction velocity" is a measure of how fast a reaction occurs. As a reaction proceeds in the forward direction products are produced as reactants are consumed, and the rate is how fast this occurs. As we shall see later in this chapter, the rate is often influenced by the concentration of reactants, and so it is common to describe this rate in terms of concentration.