Resistors are used to limit voltage and/or current in a circuit and can have a fixed or variable resistance.  Variable resistors (often called potentiometers or rheostats) are used when dynamic control over the voltage/current in a circuit is needed, for example, in a light dimmer or volume control.

Capacitors store electricity and are used in circuits as temporary batteries. Capacitors are charged by DC current (AC current passes through a capacitor) and that stored charge can later be dissipated into the circuit as needed. Capacitors connected in series produce less capacitance than capacitors connected in parallel.

Capacitors store electricity and are used in circuits as temporary batteries. Capacitors are charged by DC current (AC current passes through a capacitor) and that stored charge can later be dissipated into the circuit as needed. Capacitors are often used to maintain power within a system when it is disconnected from its primary power source or to smooth out or filter voltage within a circuit.

Circuits containing transistors are packaged into integrated circuit chips that allow encapsulating complex circuit designs (CPU, memory, I/O) for easier integration into electronic devices and machines.

A closed circuit is a complete loop or path that electricity follows. It consists of a source of voltage, a load, and connective conductors. If the circuit is interrupted, if a wire is disconnected or cut for example, it becomes an open circuit and no electricity will flow.