The magnetic flux is proportional to the number of magnetic field lines that cut through a surface. The SI unit of magnetic flux is the weber (1 Wb = 1 T·m2).
Faraday's law gives the induced emf whenever there is a changing magnetic flux, regardless of the reason the flux is changing:
The ratio N2/N1 is called the turns ratio. There is no energy loss in an ideal transformer, so the power input is equal to the power output.
Whenever a solid conductor is subjected to a changing magnetic flux, the induced emf causes eddy currents to flow simultaneously along many different paths. Eddy currents dissipate energy.
A changing magnetic field gives rise to an induced electric field. The induced emf is the circulation of the induced electric field.
A changing current in one circuit element induces an emf in another circuit element. The mutual inductance is the constant of proportionality between the rate of change of the current and the induced emf.