Standard reduction potential is a measure of the tendency of a chemical species to gain electrons and thereby be reduced. It is expressed in volts (V) and is determined under standard conditions, which include a concentration of 1 M for all solutes, a pressure of 1 atm for gases, and a temperature of 25ยฐC (298 K). The values of standard reduction potentials are critical in electrochemical cells as they help predict the direction of electron flow and the feasibility of redox reactions.