All electricity is the movement of electrons which are subatomic particles that orbit the nucleus of an atom. Electrons occupy various energy levels called shells and how well an element enables the flow of electrons depends on how many electrons occupy its outer (valence) electron shell.

Insulators have valence shells that are more than half full of electrons and, as such, are tightly bound to the nucleus and difficult to move from one atom to another.

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.

Lights connected in series form a chain with each light connecting to adjacent lights via one wire. Therefore, if one of the lights burns out and breaks the series, none of the other lights will receive power and they'll go dark. Lights connected in parallel each connect to the positive and negative nodes of the power source and would not go dark if one of their neighbors burnt out.

Voltage (V) is the electrical potential difference between two points. Electrons will flow as current from areas of high potential (concentration of electrons) to areas of low potential. Voltage and current are directly proportional in that the higher the voltage applied to a conductor the higher the current that will result.