@johnjohn123 I think it means the number of API calls and it applies to all parts of Power Platform.
For example for Power Automate Cloud Flow each Action Flow Block in a Cloud Flow when it is executed may be counted as one, two or more API Calls towards this limit for example (depends on the specific Connector and Action Block). The Trigger Block of a Cloud Flow when it's triggered, also counts as at least one API call, I believe. Apply to Each, etc. may also count as at least one API call (and it also counts at least once each time again each iteration I believe), etc.
Power FX formula usage in Power Apps Canvas App when a function is run (potentially including when using it in Power Apps Editor), especially when it is calling out to a Data Source, may count as at least one API call per function call, again depending on the specific connector and the specific context.
Besides this, the equivalents apply for Power BI and Power Virtual Agents as well. The API calls are pooled across all Power Platform products and counted towards the aggregate global limit for your plan, which is that limit you refer to.
What means transition period? : I think this means everyone is in this period now until October 1, 2024 after which time the Actual Limit applies.
This is for an initial guideline only, if the use case is sensitive, please click here and use these steps to double-check with Microsoft if my information is correct just in case.
See if it helps @johnjohn123
