Faraday's and Lenz's Laws are in accord with the law of conservation of energy. When a magnet is moved closer to a coil, or the coil is moved toward the magnet, by Faraday's law, an emf is created that can generate an electric current if the coil is a closed circuit; and the Lenz's law, the direction of this induced current is such that the resulting magnetic field exerts an opposing force on the moving magnet. Using the concept given above, analyze the illustration below and determine the direction of electron flow for the induced current in the case illustrated below. Explain your answer.

Faraday's and Lenz's Laws are in accord with the law of conservation of energy. When a magnet is moved closer to a coil, or the coil is moved toward the magnet, by Faraday's law, an emf is created that can generate an electric current if the coil is a closed circuit; and the Lenz's law, the direction of this induced current is such that the resulting magnetic field exerts an opposing force on the moving magnet. Using the concept given above, analyze the illustration below and determine the direction of electron flow for the induced current in the case illustrated below. Explain your answer.