#### Answer

By reflecting the graph of $y=\frac{1}{x}$ with respect to $x$ axis and then translating it upwards for $1$ unit we get the graph of $y=1-\frac{1}{x}$.

#### Work Step by Step

Start with the graph $y=\frac{1}{x}$. By reflecting it with respect to $x$ axis we get the graph of $y=-\frac{1}{x}$. Now translating the new graph upwards by $1$ unit we get the graph of $y=-\frac{1}{x}+1=1-\frac{1}{x}$ as shown on the figure below.