What Are Potentiometers?
A potentiometer (colloquially, pot) is a three-terminal resistor with a continuously adjustable tapping point controlled by rotation of a shaft or knob or by a linear slider The name potentiometer comes from its function as an adjustable voltage divider to provide a variable potential at the terminal connected to the tapping point. Volume control in an audio device is a common application of a potentiometer. A typical low power potentiometer (see drawing) is constructed of a flat resistance element (B) of carbon composition, metal film, or conductive plastic, with a springy phosphor bronze wiper contact (C) which moves along the surface. An alternate construction is resistance wire wound on a form, with the wiper sliding axially along the coil. These have lower resolution, since as the wiper moves the resistance changes in steps equal to the resistance of a single turn
High-resolution multiturn potentiometers are used in precision applications. These have wire-wound resistance elements typically wound on a helical mandrel, with the wiper moving on a helical track as the control is turned, making continuous contact with the wire. Some include a conductive-plastic resistance coating over the wire to improve resolution. These typically offer ten turns of their shafts to cover their full range. They are usually set with dials that include a simple turns counter and a graduated dial, and can typically achieve three digit resolution. Electronic analog computers used them in quantity for setting coefficients, and delayed-sweep oscilloscopes of recent decades included one on their panels.
Source: Wikipedia