The equation shows ethanol (C2H5OH) reacting with ethanoic acid (CH3COOH) to form ethyl ethanoate (CH3COOC2H5) and water (H2O).
This is an esterification reaction. Esterification is the reaction between a carboxylic acid and an alcohol to produce an ester and water. It is typically catalysed by a concentrated strong acid such as tetraoxosulphate(VI) acid (H2SO4), and the reaction is reversible, indicated by the equilibrium sign (⇌).
Condensation is a broader term for reactions where two molecules combine with the loss of a small molecule (often water). While esterification is technically a type of condensation, the specific and more accurate name for this reaction between an acid and an alcohol is esterification.
Fermentation is the enzymatic conversion of sugars (such as glucose) to ethanol and carbon(IV) oxide.
Hydrolysis is the reverse of esterification, where an ester is broken down by water (or alkali) into the parent acid and alcohol.