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Potentiometer

A potentiometer is a three-terminal variable resistor (also known as a volume control) and is a type of sensor used to measure rotational or linear displacement.
A familiar example is the volume knob on audio equipment: turning it changes the resistance and thus the sound volume.
However, potentiometers are generally more precise than typical volume controls and can therefore be used for more accurate measurement and control applications.
They have three terminals: as the wiper slides between the HIGH and LOW terminals, the resistance value changes, allowing a signal to be extracted. The change is typically interpreted as a voltage signal.