Magnetism
A very common source of magnetic field found in nature is a dipole, with a "South pole" and a "North pole", terms dating back to the use of magnets as compasses, interacting with the Earth's magnetic field to indicate North and South on the globe. Since opposite ends of magnets are attracted, the north pole of a magnet is attracted to the south pole of another magnet. The Earth's North Magnetic Pole (currently in the Arctic Ocean, north of Canada) is physically a south pole, as it attracts the north pole of a compass.
A magnetic field contains energy, and physical systems move toward configurations with lower energy. When diamagnetic material is placed in a magnetic field, a "magnetic dipole" tends to align itself in opposed polarity to that field, thereby lowering the net field strength. When ferromagnetic material is placed within a magnetic field, the magnetic dipoles align to the applied field, thus expanding the domain walls of the magnetic domains.
Magnetic field
The Maxwell term "is" critically important in the creation and propagation of electromagnetic waves. Maxwell's correction to Ampère's Law together with Faraday's law of induction describes how mutually changing electric and magnetic fields interact to sustain each other and thus to form electromagnetic waves, such as light: a changing electric field generates a changing magnetic field, which generates a changing electric field again. These, though, are usually described using the differential form of this equation given below.