Lenz's Law describes how an induced current in a conductor opposes changes in magnetic flux, illustrated by a magnet falling slowly through a copper pipe due to induced currents. The right-hand rule helps determine the direction of the induced current and force in these scenarios. A demonstration with a suspended copper pipe shows that when a magnet is pulled away, the pipe moves in response, illustrating Lenz's Law in action. Understanding whether magnetic flux is increasing or decreasing is crucial, but in this case, the flux from a permanent magnet remains constant. The discussion emphasizes the interplay between Lenz's Law and the right-hand rule in electromagnetism.