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Torque multipliers multiply torque by using gear reduction. A set of planetary gears multiplies torque, typically on a ratio of 4:1 or 6:1, by exchanging travel for torque.
A socket wrench's torque depends on two things: the force you apply and the mechanical leverage of the wrench's length. Broadly speaking, torque is a result of force and distance from the pivot ...
Socket extensions might not change your torque output like a universal joint would, but they do have an impact on several other aspects of the tool's performance. Most obviously, they improve reach.