Magnet
Many materials have unpaired electron spins, and the majority of these materials are paramagnetic. When the spins interact with each other in such a way that the spins align spontaneously, the materials are called ferromagnetic (what is often loosely termed as magnetic). Because of the way their regular crystalline atomic structure causes their spins to interact, some metals are ferromagnetic when found in their natural states, as ores. These include iron ore (magnetite or lodestone), cobalt and nickel, as well as the rare earth metals gadolinium and dysprosium (when at a very low temperature). Such naturally occurring ferromagnets were used in the first experiments with magnetism. Technology has since expanded the availability of magnetic materials to include various man-made products, all based, however, on naturally magnetic elements.
Magnetic moment
The magnetic moment is a quantity that represents the magnetic strength and orientation of a magnet or other object that produces a magnetic field. Examples of objects that have magnetic moments include: loops of electric current (such as electromagnets), permanent magnets, elementary particles (such as electrons), various molecules, and many astronomical objects (such as many planets, some moons, stars, etc).