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Anyway .... let's say you have two different PSUs (their abbreviation for Power Supply Unit), both boldly advertised at 600 watts.
PSU A is a cheap one, poorly designed. It can only ever "do" that 600 watts *ONCE* in its entire lifetime, for a split second, like a transient peak / spike on power ... AND, that 600 watts is the power draw from the wall, not the output. (Also that PSU might only have 65% or 70% efficiency.) It might only be able to put out like half that, or even less, continuously for a short time (maybe a year if 8 hours a day, 5 days a week operation), AND only be rated for 25°C, if it's even rated at all. Also, the maximum continuous capacity might be somewhat evenly distributed between 3.3V, 5V and 12V rails (what the internal components draw their power from). Then, when it dies (which might likely be an early death), it takes other PC parts with it.
PSU B is a high quality, well-designed unit. It can do that 600 watts OUTPUT, with like 88-92% efficiency or thereabouts, ALL of it on the 12-volt rail (most modern PCs in the last few years primarily use this for most of their major parts), CONTINUOUSLY, 24/7 for the entire length of the warranty (I've heard of 12-year warranties on a couple models and 10-year on quite a few others), in an environment with an ambient temperature of 50°C. When the unit eventually dies, it dies a relatively peaceful death, and doesn't take other parts with it.
PSU B might be several times more expensive than PSU A, but to me it would be worth it, would pay for itself in lasting a lot longer, and not taking out other components when it croaks. Also most people I know in the enthusiast PC community (or even not necessarily enthusiast level but at least somewhat knowledgeable, beyond the level of "just buy a pre-made Dell or HP or whatever and they'll support me, hold my hand through things") would only call PSU B a 600-watt power supply. I even know of some who look at just the 12-volt rail and quote that as the useful power output. There are some in-between-quality units that while they run almost as well as a hypothetical PSU B (and not have the reliability / safety issues of a PSU A), while it might have 600 watts total output, might have like 540 watts on 12V, so they'd call it a 540-watt power supply. On the other hand, the enthusiasts like to call power supplies like "A" things like "fire starters", "bombs", etc.