Here are the essential concepts you must grasp in order to answer the question correctly.
Ferromagnetism
Ferromagnetic materials have unpaired electron spins that align parallel to each other, resulting in a strong magnetic field. This alignment can persist even after the external magnetic field is removed, allowing these materials to be used to create permanent magnets. Common examples include iron, cobalt, and nickel.
Antiferromagnetism
Antiferromagnetic materials have adjacent electron spins that align in opposite directions, effectively canceling each other out. This results in no net magnetic moment, meaning these materials cannot maintain a permanent magnetization. Examples include manganese oxide and iron oxide at certain temperatures.
Ferrimagnetism
Ferrimagnetic materials contain two different types of ions with opposing magnetic moments that do not completely cancel each other out, leading to a net magnetic moment. While they can exhibit magnetic properties, they do not retain magnetization as effectively as ferromagnetic materials, making them less suitable for permanent magnets. An example is magnetite (Fe3O4).