What phenomenon occurs when a permanent magnet's magnetic field induces magnetism in a piece of iron?

Induced magnetism occurs when a magnetic field, such as that from a permanent magnet, causes certain materials, like iron, to temporarily become magnetized. This happens because the magnetic field of the permanent magnet aligns the magnetic domains within the iron, causing it to exhibit magnetic properties.

Once the external magnetic field is removed, the iron generally loses its magnetism because the alignment of the magnetic domains is no longer maintained. This is different from permanent magnetism, where a material retains its magnetic properties without an external field. Ferromagnetism refers to a property of materials that can become permanent magnets themselves, while electromagnetism relates to the interaction between electricity and magnetism, often involving electric currents creating magnetic fields.