If the component is DE-energized, meaning the whole device is
powered down, then the only thing you can measure with the meter-
probes on both ends of the component is its resistance.
If you have a fancy, expensive meter, then maybe you could measure
the component's capacitance or inductance. I never had one of those.
The normal meter measures volts, amps, and ohms. If you touch
the probes to both ends of the component and the circuit is energized,
then you measure the voltage across the component. If the circuit is
DE-energized, then you're measuring the component's resistance.
(Note: You have to know which one you're measuring, and set up the
meter properly. For example, if the circuit is energized and you try to
measure resistance, it's possible that you could fry your meter.)
