This code performs the following steps: 1. **Create two lists**: ...

This code performs the following steps:

1. Create two lists:

   a = [1, 2, 3]
   b = [2, 3, 4]
   

   a is a list containing the numbers [1, 2, 3]. b is a list containing the numbers [2, 3, 4].

2. Convert the lists into sets: set(a) converts list a into a set {1, 2, 3}. Similarly, set(b) converts list b into a set {2, 3, 4}.

3. Find the intersection of the two sets: The & operator is used to compute the intersection of two sets. The intersection includes only the elements that are present in both sets.

   c = set(a) & set(b)
   

   Here, set(a) & set(b) evaluates to {2, 3} because 2 and 3 are the common elements in both sets.

4. Assign the result to variable c: The result of the intersection, {2, 3}, is assigned to the variable c.

Summary:

This code finds the common elements (intersection) between two lists a and b. The result is stored in c, and in this case, c will contain {2, 3}.