From UCDavis Chemwiki
Le Châtelier's principle states that if the system is changed in a way that increases the concentration of one of the reacting species, it must favor the reaction in which that species is consumed. In other words, if there is an increase in products, the Reaction Quotient Qc is increased, making it greater than the Equilibrium Constant Kc. Suppose you have an equilibrium established between four substances A, B, C and D.
`A + 2B ⇌ C + D`
What would happen if you changed the conditions by increasing the concentration of A?
According to Le Châtelier, the position of equilibrium will move in such a way as to counteract the change. That means that the position of equilibrium will move so that the concentration of A decreases again - by reacting it with B and turning it into C + D. The equilibrium moves to the right (green arrow below).
This is a useful way of converting the maximum possible amount of B into C and D. You might use it if, for example, B was a relatively expensive material whereas A was cheap and plentiful.
According to Le Châtelier, the position of equilibrium will move so that the concentration of A increases again. That means that more C and D will react to replace the A that has been removed. The position of equilibrium moves to the left.
This is essentially what happens if you remove one of the products of the reaction as soon as it is formed. If, for example, you removed C as soon as it was formed, the position of equilibrium would move to the right to replace it. If you kept on removing it, the equilibrium position would keep on moving rightwards - turning this into a one-way reaction.