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This lecture covers the calculation of pressure drop in closed-flow systems, including minor losses in elements such as elbows and valves, as well as the application of Bernoulli's equation and the continuity equation. The instructor presents exercises involving the transfer of gasoline through piping systems, determining pressure differences, and estimating pump power. The lecture also delves into the concepts of laminar and turbulent flow, friction factors, and the control volume approach in fluid dynamics.