A meteorite is a fragment of rock or iron from outer space.Meteorites are believed to originate in the asteroid belt between the planets of Mars and Jupiter.These peice of rocks or Iron when land (crash) on Earth, they are selled in an extremely high price.Even the impacts of it on the earth is very high.
Asteroid: a large rocky body in space,in orbit around the Sun.Meteoroid: much smaller rocks or particles in orbit around the Sun.Meteorite: If a small asteroid or large meteoroid survives its fiery passage through the Earth's atmosphere and lands on Earth's surface,it is then called a meteorite
Meteorites have traditionally been divided into three broad categories: stony meteorites that are rocks, mainly composed of silicate minerals; iron meteorites that are largely composed of metallic iron-nickel; and stony-iron meteorites that contain large amounts of both metallic and rocky material.