The Thevenin equivalent circuit of a complex circuit is an equivalent one consisting of a voltage source in series with a resistance, while the Norton equivalent circuit consists of a circuit with a current source in parallel with a resistance.

In general, it is preferable to use Thevenin's theorem when we need to calculate voltage and current across variable loads, while Norton's theorem is preferred when we need to calculate the current flowing through a fixed load. In some cases, either theorem may be used interchangeably. Ultimately, the choice between the two theorems depends on the specific requirements of the circuit analysis and the convenience of the calculation.
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