What do you understand by the term "Redox Reactions"? Explain with one example

i.                     When oxidation and reduction take place simultaneously in a given chemical reaction, it is called redox reaction or oxidation-reduction.

ii.                    No oxidation can take place without reduction and there is no reduction without oxidation at the same time.

iii.                  When carbon monoxide is passed over heated ferric oxide, carbon monoxide gains oxygen (i.e. gets oxidized) to form carbon dioxide. At the same time, iron oxide gets reduced to metallic iron by the loss of oxygen.

Fe₂O₃ + CO → 2Fe +2CO₂ ↑