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Eddy currents (also called Foucault currents) are currents induced in conductors, opposing the change in flux that generated them. It is caused when a conductor is exposed to a changing magnetic field due to relative motion of the field source and conductor; or due to variations of the field with time. This can cause a circulating flow of electrons, or a current, within the body of the conductor. These circulating eddies of current create induced magnetic fields that oppose the change of the original magnetic field due to Lenz's law, causing repulsive or drag forces between the conductor and the magnet.
Hysterisis refers to time lag shown by a body in reacting to changes in the forces, particularly magnetic forces, affecting it. It also occurs in elastic behaviour of materials.
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