Magnetism
Magnetism is a class of physical phenomena that are mediated by magnetic fields. Electric currents and the magnetic moments of elementary particles give rise to a magnetic field, which acts on other currents and magnetic moments. The most familiar effects occur in ferromagnetic materials, which are strongly attracted by magnetic fields and can be magnetized to become permanent magnets, producing magnetic fields themselves. Only a few substances are ferromagnetic; the most common ones are iron, nickel and cobalt and their alloys. The prefix "" refers to iron, because permanent magnetism was first observed in lodestone, a form of natural iron ore called magnetite, FeO.
Magnet
Ancient people learned about magnetism from lodestones (or magnetite) are naturally magnetized pieces of iron ore. The word "magnet" was adopted in Middle English from Latin "magnetum" "lodestone", ultimately from Greek ("magnētis [lithos]") meaning "[stone] from Magnesia", a part of ancient Greece where lodestones were found. Lodestones, suspended so they could turn, were the first magnetic compasses. The earliest known surviving descriptions of magnets and their properties are from Greece, India, and China around 2500 years ago. The properties of lodestones and their affinity for iron were written of by Pliny the Elder in his encyclopedia "Naturalis Historia".