Final answer:
H₂O₂ acts as both the reducing agent and the oxidizing agent in a disproportionation reaction where oxygen is both reduced and oxidized.
Step-by-step explanation:
In the given reaction, H₂O₂ is both the reducing agent and the oxidizing agent. This process is known as a disproportionation reaction, where the same substance undergoes both oxidation and reduction. Specifically, in this reaction, the oxidation number of oxygen goes from -1 in H₂O₂ to 0 in O₂, indicating oxidation, and from -1 in H₂O₂ to -2 in H₂O, indicating reduction. Thus, H₂O₂ serves as both the oxidizer and reducer because it loses electrons (to form O₂) and gains electrons (to form H₂O).