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This lecture covers the concepts of apparent and true power in electrical circuits, focusing on the power factor and power triangle. It explains how to calculate power in circuits with resistors and inductors, emphasizing the difference between apparent and true power. The instructor discusses the importance of power factor in optimizing circuit efficiency and introduces the concept of time-averaging power. Additionally, the lecture explores transformers without load resistors, analyzing emfs and currents in primary and secondary circuits. It concludes with a detailed explanation of transformers with load resistors, highlighting the role of resistance in power loss.