What are the significance of Oxidation and Reduction in everyday life?

1. Respiration is oxidation reaction in which food is oxidized to produce energy.

2. Iron gets oxidized to form rust; which leads to corrosion of iron in the long run.

3. Most of the metals react with atmospheric oxygen and it leads to formation of a layer on the metal article. The metal gets corroded in the long run.

4. Rusting of iron can be prevented by painting the iron article. This can also be prevented by applying a layer of zinc over iron article.
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The Brainliest Answer!
Chemicals in a car battery (and other batteries) undergo redox reactions. Dry cells in electrical and electronic devces as well as wet cells in cars. Combustion of CH4 in gas stoves and water heaters, plus C8H18 in cars and lawn mowers. 

Photographic prints still depend on reducing exposed AgCl/AgBr to Ag metal, even if taken with digital cameras. 

Rising of dough with yeast depends on oxidation of sugars to CO2 and H2O. The CO2 gives the rise. 

Tarnishing of silverware, 4Ag + 2H2S + O2 ===> 2Ag2S(black) + 2H2O 

Reduction of hypochlorite or perborate in bleach during oxidation of stains on clothes. 

Reduction of hydrogen peroxide to water on bleaching of hair blonde. 

Reduction of chlorine to chloride during oxidative destruction of pathogens in swimming pools or drinking water.
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Oxidation helps us predict what compounds will form
 is a reactant that donates electrons to other reactants during a redox reaction