In general, an element that is reduced gains electrons during a chemical reaction and an element that is oxidized loses electrons. In all chemical reactions there is always oxidation and reduction happening. Basic ionic equations clearly demonstrate this principle.
For example:
K + NaC --> KCl + Na
In the above example, K is more reactive than Na and therefore displaces Na in solution. The K metal goes from being a metal to being an ion with a +1 charge. It has therefore lost an electron. It has therefore been oxidized. Na goes from being an ion with a +1 charge bonded to Cl to being just Na metal with no charge. It gains an electron (the one K lost) and is therefore reduced.
Do you see how it works? Further, Na is the oxidizing agent, since its reduction CAUSED K's oxidation. K is the reducing agent since K losing an electron to Na CAUSES Na's reduction (gain of electron).
Hope it makes more sense now.