Electrical power is measured in watts (W) and is calculated by multiplying the voltage (V) applied to a circuit by the resulting current (I) that flows in the circuit: P = IV. In addition to measuring production capacity, power also measures the rate of energy consumption and many loads are rated for their consumption capacity. For example, a 60W lightbulb utilizes 60W of energy to produce the equivalent of 60W of heat and light energy.

The purpose of a capacitor is to retain electric charge and it will do so even after its input voltage is removed. After the input voltage is removed, the capacitor will slowly discharge but, depending on the size and characteristics of the capacitor, discharging could take from a few minutes to a few years. So, it's never safe to touch a capacitor with your hands and you should make sure to discharge any capacitors in a circuit before working on it using an appropriately high-wattage resistor or a capacitor discharge tool.

A transformer utilizes an inductor to increase or decrease the voltage in a circuit. AC flowing in a coil wrapped around an iron core magnetizes the core causing it to produce a magnetic field. This magnetic field generates a voltage in a nearby coil of wire and, depending on the number of turns in the wire of the primary (source) and secondary coils and their proximity, voltage is induced in the secondary coil.

Current is the rate of flow of electrons per unit time and is measured in amperes (A). A coulomb (C) is the quantity of electricity conveyed in one second by a current of one ampere.

Resistors are used to limit voltage and/or current in a circuit and can have a fixed or variable resistance.  Variable resistors (often called potentiometers or rheostats) are used when dynamic control over the voltage/current in a circuit is needed, for example, in a light dimmer or volume control.