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Definitions
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Transistor
A three lead switching device. (In laymen's terms, a small black dohicky with 3 wires that's used instead of vacuum tubes in radios)
Diode
A two lead semiconductor device that only lets current flow in one direction through it. (In laymen's terms, a small glass or black thingy with two wires that only lets the juice flow one way.)
Capacitor
A device that stores electric charge. (In laymen's terms, a what's-it that looks like a tin can or a flying saucer with two wires and acts like a rechargeable battery.)
Resistor
A device that opposes the flow of current. (In laymen's terms, a tubular object with colored stripes to match your taste, and wires sticking out each end)


Resistance
Any thing that resists the flow of electrons, a load. (In laymen's terms; a lamp, fridge, toaster, toilet seat heater, TV, computer, sump pump, air hockey game, or any thing else that plugs into the wall)
Light Emitting Diode
A diode that emits light through it when current flows through it. (In laymen's terms, a diode that glows when connected to a power supply.  In other words, a small, energy efficient light bulb that only lights when the current is connected the right way.)
Rectifier
A device that converts AC to pulsating DC. (In laymen's terms, a thingy that fixes your wall juice so that it can power your portable CD player.)
Transformer
A device that increases or decreases AC voltage. The power (watts) is not changed, so the current decreases or increases, respectively. (In laymen's terms, an iron dohicky that has the copper thingies wrapped around the main part, it is used to lower wall current to a safe level to use on model trains.)