If a power supply has been designed to have limited output current, as this one appears to, then the load determines whether it operates in limited voltage or limited current mode.

• If the load voltage is lower than the supply's Vmax limit, then the supply is delivering a constant current at the Imax limit, and dropping its output voltage.
• If the load current is lower than the supply's Imax limit, then the supply is delivering a constant voltage at the Vmax limit, and supplying the low load current.

If a power supply has been designed to have limited output current, as this one appears to, then the load determines whether it operates in limited voltage or limited current mode.

• If the load voltage is lower than the supply's Vmax limit, say a short-circuit or a low value resistor, then the supply is delivering a constant current at the Imax limit, and dropping its output voltage.
• If the load current is lower than the supply's Imax limit, perhaps an open circuit or a high value resistor, then the supply is delivering a constant voltage at the Vmax limit, and supplying whatever low current the load is demanding.