The power supply provides usable electricity to the rest of the computer parts. The standard wall outlet has too high of a voltage for your more delicate components (like little capacitors, microprocessors, etc) so the power supply serves as a bit of a gatekeeper to make sure that the current from your mains electricity doesn’t fry your components. It’s a lot like the charging bricks that plug into the wall and use a USB cable to charge a cell phone.
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