A diaphragm: This is the thin, light-weight membrane that captures sound waves.
A coil: This is a small coil of wire attached to the back of the diaphragm. When the diaphragm vibrates in response to sound waves, the coil is pushed and pulled as well.
A magnet: This is a permanent magnet that is placed near the coil. As the coil moves in response to sound waves, it interacts with the magnetic field created by the magnet, generating a small electrical current.
An amplifier: This is an electronic circuit which amplifies the electrical signals generated by the coil.
A preamp: This is an electronic circuit which amplifies the signal again before sending it to the mixer.