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Why is the symbol for magnetic field ‘B’?

Answer
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Hint: Let us first get some idea about magnetic fields. The magnetic effect on moving electric charges, electric currents, and magnetic materials is described by a magnetic field, which is a vector field. In a magnetic field, a moving charge experiences a force that is perpendicular to both its own velocity and the magnetic field. The magnetic field of a permanent magnet attracts or repels other magnets, as well as ferromagnetic elements like iron.

Complete step-by-step solution:
The phrase "magnetic field" is used in electromagnetics to refer to two different but related vector fields indicated by the letters BandH. H, magnetic field strength, is measured in the SI base units of ampere per metre (A/m) in the International System of Units. The magnetic flux density, B, is expressed in tesla, which is equal to newton per metre per ampere. Magnetization is handled differently by HandB. The two fields are connected in a vacuum by the vacuum permeability Bμ=H, however, in a magnetised material, the terms differ due to the material's magnetization at each location.
Moving electric charges and the intrinsic magnetic moments of elementary particles associated with a fundamental quantum feature, their spin, form magnetic fields. Magnetic and electric fields are intertwined and are both components of the electromagnetic force, which is one of nature's four fundamental forces.

Note: Let us get to know some more things about ‘B’. The magnetic field vector B at any position can be defined as the vector that correctly predicts the force on a charged particle at that position when employed in the Lorentz force law.