Combination as well as Reduction:
When iron (Fe) reacts with oxygen (O) to form iron oxide (Fe2O3), it is a combination reaction as two elements are combining to form a compound. Additionally, this reaction involves the reduction of oxygen. Reduction is the gain of electrons by a substance, and in this reaction, iron is gaining oxygen atoms to form iron oxide. This can be understood by looking at the oxidation states of the elements involved. In Fe, the oxidation state is 0, while in Fe2O3, iron has an oxidation state of +3. This indicates that iron has gained electrons from oxygen during the reaction, showing reduction.

Combination as well as Oxidation:
On the other hand, the reaction can also be considered as a combination reaction along with oxidation. Oxidation is the loss of electrons by a substance. In this case, oxygen is losing electrons to form the oxide compound. Oxygen's oxidation state changes from 0 in O2 to -2 in Fe2O3, indicating that oxygen has lost electrons during the reaction, showing oxidation.
In conclusion, the reaction of Fe plus O to form iron oxide involves both combination and reduction as well as combination and oxidation. It is a complex reaction that showcases the principles of both chemical combination and redox reactions.