An incandescent halogen light source lights up when it is subjected to the magnetic field between two magnets.Here we see how a magnetic field affects an electric current. Bring a horseshoe magnet close to a glowing bulb and observe the filament of the bulb.
source/image(PrtSc): King of Perfection
You will see that the filament oscillates. This happens because the AC current produces its own magnetic field which changes direction, so alternately there is attraction and repulsion between this magnetic field and the field produced by the horseshoe magnet.
This causes the oscillations that we see. If we use a DC current then the bulb will become dimmer when we use one pole of the horseshoe magnet and will glow brighter when we use to the other pole.
When a magnetic field moves through a conductor the movement induces an eddy current in the conductor. The flow of electrons in the conductor immediately creates an opposing magnetic field which results in damping of the magnet and produces heat inside the conductor similar to heat buildup inside of a power cord during use. The amount of energy transferred to the conductor in the form of heat is equal to the change in kinetic energy lost by the magnet.