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.