A schematic is the proper name for a drawing of an electric or electronic circuit.

An electrical circuit is a path through which electricity flows. This path contains one or more components that create a load (something that is using electricity) and that load acts as resistance to the passage of electricity through the circuit. Electricity can only flow through a circuit when the path is closed and cannot flow through an open circuit.

The transistor is the foundation of modern electronic devices. It is made entirely from semiconductor material (making it a solid state device) and can serve many different functions in a circuit including acting as a switch, amplifier, or current regulator. A transistor works by allowing a small amount of current applied at the base to control general current flow from collector to emitter through the transistor.

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.

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.