What is one common application of a potentiometer?

A potentiometer is commonly used to adjust levels, which is why the response identifying it as a tool for volume controls is accurate. Potentiometers function by varying resistance in a circuit, allowing for modifications in electrical signals. This capability makes them ideal for tasks that require gradual changes, such as adjusting volume in audio equipment.

While other options mention useful applications, they do not accurately reflect the primary function of a potentiometer. Toggling power is typically managed by switches, limiting current is done using resistors or current-limiting devices, and measuring electrical consumption usually involves devices such as ammeters or wattmeters. Thus, the versatility of a potentiometer in fine-tuning levels is what distinguishes it as a crucial component in many electronic devices.