Final answer:
Psoriasis is a skin disorder that produces a red rash overlaid with a yellow oily scale and is common in people with oily skin or hair. It is a chronic autoimmune condition that causes rapid skin cell growth, resulting in thick, red patches with silvery scales.
Step-by-step explanation:
The skin disorder that produces a red rash overlaid with a yellow oily scale and is common in people with oily skin or hair is psoriasis. Psoriasis is a chronic autoimmune condition that causes rapid skin cell growth, leading to the formation of thick, red patches with silvery scales. It can affect various parts of the body, including the scalp, elbows, knees, and back.