Explain Oxidation-reduction reaction based on the exchange of electrons.

Oxidation reaction – On the basis of the exchange theory of electrons an oxidation reaction could be termed as that in which an atom, element, molecule or an ion loses an electron.

Example – Na → Na⁺ + e ^-

Reduction reaction – On the basis of the exchange theory of electrons a reduction reaction could be termed as that in which an atom, element, molecule or an ion gains an electron.

Example – Cl + e ^- → Cl ^–