Factored into the tolerance is the temperature coefficient, because the tolerance is specified over the operating range. There are also 3 basic temperature ranges: Industrial, automotive, and military. I've used this to my advantage by spec'ing automotive capacitors when I needed tighter tolerances for my normally room temperature applications.
Most resistor in power supplies would be different values. For digital stuff and low current applications (along with designated FET drivers) you dont need too much.