Final answer:
Ferromagnetic materials like iron, steel, cobalt, and nickel can become permanent magnets due to their atomic structure that allows domains to align and maintain magnetization, with some materials holding this property longer than others.
Step-by-step explanation:
Ferromagnetic materials such as iron, steel, cobalt, nickel, and gadolinium exhibit strong magnetic effects and can be magnetized to become permanent magnets. This property arises from the alignment of their atomic magnetic dipoles within regions called domains. Materials like steel can retain induced magnetism for a longer period, making them suitable for creating permanent magnets, whereas iron may lose its magnetism relatively quickly when removed from an external magnetic field.
Such objects can interact with magnetic fields in multiple ways, including being attracted to magnets and becoming magnetized themselves. The ability of these objects to retain magnetization varies among different ferromagnetic substances, influenced by factors like alloy composition and exposure to demagnetizing forces.