Ferromagnetism-
The property of substances by which they show permanent magnetism even in the absence of the magnetic field is called ferromagnetism.
Ferromagnetism substances are- Fe, Ni, Co, Gd, CrO2 etc.
Paramagnetism-
The property of substances by which they are attracted by the external magnetic field is called paramagnetism.
This property is shown by those substances whose atoms, ions or molecules contain unpaired electrons, eg- O2, Cu2+, Fe3+ and Cr3+