Trying to visualize the wording of a question about finding the resistor that carries the highest voltage

I'm assuming we are talking in terms of DC here to keep things simple.

Voltage is a measure of how much a single electron's energy changes across the circuit. Current is how many electrons are flowing through a circuit. Multiply those two values to get the rate of energy transfer, or power. If all you have is a measure of current, you know how many electrons are flowing through the circuit, but not how much their energy is changing.

You are correct that voltage induces current, and that voltage and current are interrelated. Ohm's law is the simplest case of that. You can derive a circuit's power from current and it's resistance using known formulas. And even more simply, if you know current is flowing you know the circuit is dissipating power, even if you don't know how much (as the other commenters have said)

While driving a load with a microcontroller, you may add resistors on either side. This is because the current entering the LED and leaving out of the LED is the same. So if a resistor is used on the high side or low side, it would limit the current. They can be used on either side and either way because they are not polarized.

In such configurations, resistors limit current flowing through an active component (LED in your case). Considering Kirchoff's Law, it doesn't matter if the resistor is on the positive or the negative side of the LED. It would limit the same amount of current irrespective of the positive side or negative side of LED.

More reading: Kirchhoff's Laws