A magnet is a material or object that produces a magnetic field, influencing other materials in its vicinity. Natural magnets include lodestone, a type of magnetized iron ore found in nature. Man-made magnets are often crafted from alloys containing iron, nickel, or cobalt. An example is a neodymium magnet, a powerful type commonly used in various applications, such as electronics and medical devices. Both natural and man-made magnets exhibit the fundamental property of attracting or repelling materials based on their magnetic fields.