A long straight wire lies on a horizontal table and carries an ever-increasing current northward. Two coils of wire lie flat on the table, one on either side of the wire. When viewed from above, the induced current circles

Faraday's law: A changing magnetic field induces an emf.

Lenz's law:  current produced by an induced emf moves in a direction so that its magnetic field opposes the original change in flux.

The three ways that an emf can be induced in a loop of wire.
1. by changing the magnetic field
2. by changing the area of the loop in the field
3. by changing the loop's orientation with respect to the field