J.R. S. answered 10/14/20
Ph.D. University Professor with 10+ years Tutoring Experience
Look at the oxidation number of each element on both sides of the equation:
2Fe2O3 + 3C(s) ===> 3CO2(g) + Fe(s)
..+3..-2.........0..................+4..-2..........0.......Oxidation numbers
So Fe went from +3 to 0 meaning it was reduced
C went from 0 to +4 meaning it was oxidized