Answer
Balanced equation:
$2Fe(s) + 3H_2SO_4(aq) --\gt Fe_2(SO_4)_3(aq) + 3H_2(g)$
Reaction type: Single replacement.
Work Step by Step
$Fe(s) + H_2SO_4(aq) --\gt Fe_2(SO_4)_3(aq) + H_2(g)$
1. Balance the number of sulfur atoms, by putting a "3" in front of $H_2SO_4$.
$Fe(s) + 3H_2SO_4(aq) --\gt Fe_2(SO_4)_3(aq) + H_2(g)$
2. Balance the number of iron atoms, by putting a "2" in front of $Fe$
$2Fe(s) + 3H_2SO_4(aq) --\gt Fe_2(SO_4)_3(aq) + H_2(g)$
3. Balance the number of hydrogen atoms, by putting a "3" in front of $H_2$.
$2Fe(s) + 3H_2SO_4(aq) --\gt Fe_2(SO_4)_3(aq) + 3H_2(g)$
4. Classify the reaction.
That reaction follows the pattern of a single replacement reaction (AB + C $--\gt$ CB + A). Where one compound/element replaces another in one compound.