Measuring of inductance, capacitance and resistance of any electronic device or component is the function of LCR meters. In the term LCR, L stands for inductance, C for capacitance and R for resistance. These meters are crucial for those working on transistors, amplifiers and other such devices. Overall, every electronic device needs such meters for measuring the readings in three dimensions.
Techniques could be many to do this measurement but generally AC voltage source is used for driving it. Every house and office has electronic arrangements or devices and therefore the high relevance of these meters for those could be imagined.