Answer:
Each atom acts as a tiny magnet, when the magnetic field of each of the tiny magnets are aligned together, it gives a north pole and south pole. This is brought about due to prolonged exposure to a permanent magnet, which has caused the alignment of the atoms' individual magnetic fields to attain polarity. If the paperclip is made of iron, it can be magnetized and demagnetized easily. Once the paperclip is removed from the magnet, it will lose its magnetic properties.
