Normally only 20% oxygen in air can react e.g. burning, corrosion, or other oxidative reactions.
The other 80% is nitrogen and traces of carbon dioxide (<1%) and some others are more or less inert.
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Nitrogen gas (N2) is the most abundant component of Earth's atmosphere and is generally considered inert because it tends to be unreactive under normal conditions.
Metals react with air in a form called oxidizing. This is caused because the oxygen molecules are reacting with the surface of the metal.
One example of an element that fits this description is noble gas. Noble gases such as helium, neon, and argon do not react with water and can react violently with air when exposed to certain conditions.
When iron reacts with air, they form ferric oxide.
Humid air is more dense.
Ability to react with oxygen in the air is a chemical property.