In redox reactions there’s always both reduction and oxidation.
Oxidation: loss of electrons; the process that happens to the reducing agent
Reduction: gain of electrons; the process that happens to the oxidation agent
(yes, the terminology is confusing
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This is shown in the acronym OILRIG:
Oxidation Is Loss (OIL)
Reduction Is Gain (RIG)
Some species like being transferred electrons a lot than others (strong oxidising agents) whereas some like accepting electrons a lot (strong reducing agents). What redox reactions will occur (if any) is determined by the strength of the species present as oxidising and reducing agents. To check this we look at the series in the data book. The left side of the reversible arrows has oxidising agents while the right hand side has reducing agents. The further down a species is on the list the stronger it is as an oxidising agent and the weaker it is as a reducing agent.
If a reaction occurs, it will be between the strongest oxidising agent present and the strongest reducing agent present. To see if this reaction occurs spontaneously, you need to take the standard electrode potential (show on the right of the series) of the reduction reaction and subtract the standard electrode potential of the oxidation reaction. If the result is greater that zero the reaction will occur spontaneously. Another trick to see the directional of a line drawn between the reactants. If the line goes / the reaction is spontaneous and if the line goes \ the reaction is non-spontaneous.
Note: redox reactions occur in electrochemical cells but also in other places as well. For example, the reaction that produces rust is a redox reaction where iron is oxidised.