Electromagnetic induction, in essence, states that a moving magnetic field will generate an electric current in a conductive material.
This means that if you wave a magnet above a coil of wire, you will create a very weak current in that wire.
This is the principle by which *induction stoves* operate; a pulsing magnetic field creates an electric current in a pot, which heats it up due to resistance.
Induction is the causing of one thing by another. In specific cases, it can have more specific meaning. For instance, electrostatic induction is where a charged object causes the charges in nearby objects to move. If you hold a positive charge near a metal bar, the nearby end of the bar becomes negative and the far end becomes positive. This is electrostatic induction.
If we instead look at electromagnetic induction, it is the process by which a changing magnetic field produces electricity.
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