Step 1: Understanding the principle.
The principle of energy conservation states that energy cannot be created or destroyed, only transformed from one form to another. Lenz’s law is directly based on this principle, as it states that the direction of an induced current in a closed loop will oppose the change that caused it, thus conserving energy.
Step 2: Explanation of the laws.
- (A) Ampere’s law: Describes the relationship between a current-carrying conductor and the magnetic field it creates, but not energy conservation.
- (B) Faraday’s law of electrolysis: Deals with the relationship between voltage and the rate of change of the magnetic field. While important in electromagnetism, it’s not directly related to energy conservation.
- (C) Lenz’s law: Directly related to energy conservation, as it ensures that the induced current opposes the change in the magnetic field, conserving energy.
Step 3: Conclusion.
Thus, Lenz’s law is based on the principle of energy conservation.
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\boxed{\text{Correct Answer: Lenz's law}}
\]