Final answer:
To induce an electric current in a wire loop, the magnet must be moving relative to the loop. The movement changes the magnetic field, inducing an electromotive force and generating a current according to Faraday's law of induction.
Step-by-step explanation:
The condition necessary for a magnet inside a wire loop to produce an electric current is B. The magnet must be moving relative to the loop. When a magnet is moved through a wire loop, there is a change in the magnetic field that passes through the loop. According to Faraday's law of electromagnetic induction, this change in magnetic flux induces an electromotive force (emf), which can drive an electric current in the loop. The motion of the magnet relative to the loop is crucial; a stationary magnet will not produce the same effect.