The time constant of a circuit is crucial for understanding its response to changes, typically defined for RC and RL circuits. In RLC circuits, the time constant is not uniquely defined due to the presence of multiple components, leading to different time constants based on the circuit's configuration. For example, a simple overdamped series RLC circuit can exhibit two distinct time constants. This complexity arises from the damping effects and the interactions between resistors, inductors, and capacitors. Understanding these nuances is essential for analyzing circuit behavior effectively.