Key ideas1 of 3
A permanent magnet produces its own field
A permanent magnet produces its own magnetic field and retains its magnetism without a nearby magnet. An induced magnet is a material that becomes magnetised when placed in a magnetic field. These are different ideas: a piece of iron can be a magnetic material without initially being a permanent magnet. A nearby magnet can make the iron behave as a magnet for as long as the conditions allow.
