A permanent magnet is a material that produces a persistent magnetic field without the need for an external power source. These magnets are made from materials like iron, cobalt, or nickel, which have been magnetized through various processes. They are commonly used in everyday items such as refrigerator magnets, speakers, and electric motors. Permanent magnets have two poles: a north pole and a south pole. The magnetic field generated by these poles can attract or repel other magnetic materials. Their ability to maintain a constant magnetic field makes them essential in many applications, including magnetic resonance imaging (MRI) machines and compasses.