Step 1: Understanding the Concept:
This question tests the knowledge of the scientific contributions of Michael Faraday, a key figure in the history of physics and chemistry.
Step 2: Detailed Explanation:
Electromagnetic Induction: Faraday's law of induction is a basic law of electromagnetism predicting how a changing magnetic field will interact with an electric circuit to produce an electromotive force (EMF). This is the fundamental principle behind electric generators, inductors, and transformers.
Laws of Electrolysis: Faraday also established two fundamental laws of electrolysis. The first law states that the mass of a substance altered at an electrode during electrolysis is directly proportional to the quantity of electricity transferred. The second law relates the masses of different elements liberated by the same quantity of electricity.
Step 3: Final Answer:
Since Michael Faraday is credited with both the discovery of electromagnetic induction and the laws of electrolysis, the correct answer is that he discovered both.