Question

What is the meaning of induced magnetic field?

Answer 1

When you say a magnetic field is induced it means that the magnetic field is created due to the primary field i.e. the applied external field, all conductors exhibit an effective diamagnetism when they experience a changing magnetic field. The Lorentz force on electrons causes them to circulate around forming eddy currents. The eddy currents then produce an induced magnetic field opposite the applied field, resisting the conductor's motion.