1) RC circuits involve resistors and capacitors. Charging and discharging of capacitors in such circuits does not occur instantaneously due to the presence of resistors. 2) The time constant, τ, of an RC circuit is equal to RC. It represents the time required for a capacitor's charge or voltage to change by approximately 63.2% of its maximum or initial value. 3) In the long run, the current through a charged capacitor becomes zero as it reaches its maximum charge, acting as an open circuit. For a discharging capacitor, the current becomes zero as its charge reduces to zero.