[Tahmid Mahbub] was measuring an electrolytic capacitor with an LCR and noticed it measuring 19 uF despite the device being rated at 470 uF. This was because such parts are usually specified at ...
Most ICs need to be decoupled from their power supply, usually with a 0.1uF capacitor between each power pin and ground. Decoupling is usually used to remove noise and to smooth power fluctuations.