In transformers, an increase in secondary voltage results in a decrease in current, aligning with the principle of power conservation (power in equals power out). Ohm's Law applies to the individual windings of a transformer, where voltage and current are related through resistance, but transformers as a whole do not behave as Ohmic devices due to varying impedance. The discussion emphasizes that while Ohm's Law is a fundamental principle, it is not applicable to all components, particularly those like transformers that exhibit non-linear characteristics. The relationship between voltage, current, and resistance can change based on the load and the turns ratio, but Ohm's Law remains valid under defined conditions. Overall, the conversation highlights the nuances of applying Ohm's Law in electrical circuits, especially in the context of transformers.