A new analytical form is proposed enabling one to calculate the impedance of systems that contain no inductances. The method is based on breaking the overall impedance into a sum of isolated contours corresponding to a set of intrinsic frequencies of the system. Intrinsic frequencies, which exist in any real system, can be uniquely determined from the frequency characteristics. In this, they advantageously differ from speculative elements of equivalent circuits. For inductionless circuits, sets of intrinsic frequencies are replaced by intrinsic sets of reciprocal relaxation times. This allows one to construct a relaxation spectrum for the system, which describes quantitative contributions made by each relaxation contour to the overall impedance. As a result, one can estimate quantitatively conditions under which the system’s individual parameters may be observed, evaluate the resolving power of the experimental setup, and determine the full information capacity of an experiment (the maximum number of system’s parameters that can be determined).