Also known as: local oscillator, LO
A local oscillator (LO) is a tunable reference signal mixed with the incoming signal to shift a chosen band down toward baseband.1 Tuning a receiver is just changing the LO frequency.
How it works
In hardware the LO drives an analog mixer; in software a numerically controlled oscillator performs the same shift digitally inside a digital down-converter. LO inaccuracy shows up as a PPM frequency error.
Relevance to SDR
The LO sets which part of the spectrum lands in the ADC’s window, so its accuracy and stability directly affect tuning.
Sources
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Local oscillator — Wikipedia, on the tunable reference tone a mixer uses to shift a band down. ↩