Magnet
A permanent magnet is an object made from a material that is magnetized and creates its own persistent magnetic field. An everyday example is a refrigerator magnet used to hold notes on a refrigerator door. Materials that can be magnetized, which are also the ones that are strongly attracted to a magnet, are called ferromagnetic (or ferrimagnetic). These include the elements iron, nickel and cobalt, some alloys of rare-earth metals, and some naturally occurring minerals such as lodestone. Although ferromagnetic (and ferrimagnetic) materials are the only ones attracted to a magnet strongly enough to be commonly considered magnetic, all other substances respond weakly to a magnetic field, by one of several other types of magnetism.
Magnetic moment
The net magnetic moment of any system is a vector sum of contributions from one or both types of sources.
For example, the magnetic moment of an atom of hydrogen-1 (the lightest hydrogen isotope, consisting of a proton and an electron) is a vector sum of the following contributions:Similarly, the magnetic moment of a bar magnet is the sum of the contributing magnetic moments, which include the intrinsic and orbital magnetic moments of the unpaired electrons of the magnet's material and the nuclear magnetic moments.