Actual yield is the quantity of product actually obtained from a chemical reaction. It is often measured in grams or moles and is usually less than the theoretical yield due to various practical limitations.
Theoretical Yield: The maximum amount of product that could be formed from given reactants, assuming complete conversion without any losses.
Percent Yield: A measure of the efficiency of a reaction, calculated as $(\text{actual \;yield} / \text{theoretical \;yield}) \times 100\%$.
Limiting Reactant: The substance that is completely consumed first in a chemical reaction, thus limiting the amount of product formed.