For some critical components, the tolerance can be specified as ☑% or even ☐.05%. For a 1 kilohm resistor, this means that any resistor with a value in the range of 800 ohms to 1200 ohms is acceptable. In many cases, ☒0% of precision is enough.
Here we will talk about inexpensive resistors used in electric circuits, which do not require high precision. There are very expensive resistors used for measurements. Besides, high precision resistors are relatively rarely used. Of course, it is possible to make a resistor with very precise resistance, however, it will be insanely expensive.
More information about resistance, resistivity and conductance. Any material shows some resistance except superconductors, which have zero resistance. The electrical resistance of a resistor or an electrical conductor is a measure of the opposition to the flow of electric current.
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