J.R. S. answered 04/19/17
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3C + 2Fe2O3 --> 4Fe + 3CO2
This is an oxidation/reduction reaction, where C is oxidized (loses electrons) and iron is reduced (gains electrons). C goes from oxidation number zero on the left to oxidation number 4+ on the right. Iron goes from oxidation number 3+ on the left to zero on the right.