The relative motion between the magnet and a coil is responsible for generation (induction) of electric current in the coil. This is in accordance with

Faraday's Law

The correct answer is Option (4) → Faraday's Law

Explanation:

The generation (induction) of electric current in a coil due to relative motion between a magnet and the coil occurs because the magnetic flux linked with the coil changes with time.

According to Faraday’s law of electromagnetic induction,

$ \text{Induced emf} = -\frac{d\Phi}{dt} $

This changing flux induces an emf, and hence a current, in the coil.

Therefore, the phenomenon is explained by: Faraday’s law of electromagnetic induction.