Define oxidising agent and reducing agent.
Oxidising agent - A substance that loses oxygen or electronegative radical or gains hydrogen or electropositive radical is called an oxidising agent.
Example - When magnesium reacts with oxygen, O2 is reduced by losing oxygen atoms. Thus, O2 is an oxidising agent as it undergoes reduction.
Reducing agent - A substance that gains oxygen or electronegative radical or loses hydrogen or electropositive radical is called a reducing agent.
Example - Nitrogen is oxidised to nitrogen oxide (NO) by gaining an oxygen atom. Thus, NH3 is a reducing agent as it undergoes oxidation.