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Oxidation potential refers specifically to the propensity of a substance to yield oxygen or react with it. This concept is essential in understanding chemical reactions, particularly redox reactions where oxidation and reduction processes occur. When a substance has a high oxidation potential, it readily engages in reactions where oxygen is either released or it combines with atmospheric oxygen, indicating its reactivity in forming oxides or other oxygen-containing compounds.

The other options, while related to chemistry, do not accurately define oxidation potential. The ability of a compound to donate electrons is more aligned with its reducing potential rather than oxidation potential. The stability of a substance over time pertains to its reactivity and is not directly related to oxidation potential. Lastly, the resistance to reactivity pertains to the stability profile of a compound rather than its capacity to engage in reactions involving oxygen. Thus, understanding oxidation potential is critical in assessing how a substance interacts with oxygen in various chemical contexts.