Final answer:
The reduction potential is a measure of a species' tendency to acquire electrons and be reduced. It is important in determining the direction and magnitude of electron transfer in a redox reaction.
Step-by-step explanation:
The reduction potential is a measure of the tendency of a chemical species to acquire electrons and be reduced. It is a key concept in electrochemistry and is used to determine the direction and magnitude of electron transfer in a redox reaction. The reduction potential is usually expressed in volts (V) and can be measured using a standard hydrogen electrode as a reference.