Magnesium element exists as single atoms. Free oxygen is always diatomic (two atoms bonded together) as O2. Nitrogen gas is also diatomic N2.
2Mg + O2 → MgO
Mg forms a +2 ion, O forms a -2 ion, so they combine and balance in a 1:1 ratio. MgO, magnesium oxide, is a solid.
3Mg + N2→Mg3N2
Mg forms a +2 ion, but N forms a -3 ion. Hence the Mg3N2 configuration for magnesium nitride.