The magnetic field produced by the induced current will be outside the plane of the loop and will work against the loop's motion.
The quantity of magnetic field lines that travel through a specific closed surface is known as the magnetic flux. It allows for the measuring of the overall magnetic field that traverses a certain surface region.
Because all magnetic field lines entering such a closed surface are perfectly balanced by field lines exiting, the net magnetic flux via such a closed surface is always zero. This information can be used to simplify magnetic field issues.
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