Can anyone please clear doubt about magnetism. So ferrous materials can be magnetised (e.g. iron and steel). All ferrous materials can be magnetically induced (so both sides of a magnetic object attracts).
However, a magent has poles. To make magnet, you place in d.c. current.
I'm not sure, but am i right in saying that in magnetic induction, the thing being induced is not a magnet, because it does not have magnetic field lines?
By the way, iron is magnetically soft, so loses magnetism easily right?