In this work, the authors clarify the role of the vector potential of the magnetic field in the induction equations. The concept of the vector potential of the electric field is introduced. It has been shown that the kinetic inductance of charges plays an equally important role in electrodynamics than dielectric and magnetic permittivity. Mathematical model of dispersion of electromagnetic waves in conductors and dielectrics is developed using physical value of dielectric constant, which does not depend on frequency. It has been shown that transverse plasma resonance can exist in confined plasma. The concept of kinetic capacity is introduced. A new method for deriving the wave equation is presented.