An acronym used to remember the process of oxidation and reduction in chemical reactions. It stands for "Oxidation is Loss, Reduction is Gain," referring to the loss or gain of electrons.
Think of a game of hot potato where electrons are the potato. In this game, if you're playing by OIL rules, you want to get rid of (lose) your potatoes (electrons). But if you're playing by RIG rules, you want to collect (gain) as many potatoes (electrons) as possible.
Oxidation: A reaction that involves the loss of electrons from an atom or molecule.
Reduction: A reaction that involves the gain of electrons by an atom or molecule.
Redox Reaction: A type of chemical reaction that involves a transfer of electrons between two species.
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