I need to understand how the attached circuit diagram works and what each individual component does within the circuit. I would appreciate a detailed explanation "for dummies" as electrics is my kryptonite.
This sounds like homework.
You will get a better response if you have a go at working it out and post your thoughts on how it works.
So, try to figure out the operation and write that up. Then folks may be more inclined to point you in the correct direction as needed when they see you have at least tried.