What is the process of inducing a voltage in a conductor by the action of a magnetic field called?

The process of inducing a voltage in a conductor through the action of a magnetic field is referred to as electromagnetic induction. This phenomenon occurs when a conductor, such as a wire, moves through a magnetic field or when the magnetic field surrounding a conductor changes. According to Faraday's Law of Electromagnetic Induction, a change in magnetic flux through a circuit induces an electromotive force (EMF) in that circuit. This principle is foundational in the generation of electricity and is widely used in transformers, electric generators, and various other electrical devices.

Other terms like electrolysis and capacitance refer to different concepts within electrical theory. Electrolysis involves the chemical decomposition of a substance through an electric current, while capacitance refers to the ability of a system to store an electric charge. Induction heating is a process used to heat conductive materials through electromagnetic induction, but it is not focused on the action of inducing voltage as defined in the question. Thus, the correct answer is indeed electromagnetic induction, as it accurately describes the voltage induction process linked to magnetic fields.