Phantom Power
Most microphones today do not require phantom power, but some do. Phantom Power is often required by the following types of microphones: Condensor, Electret, DI Boxes and rarely some varieties of Wireless Microphone (not AmpliVox models). These Microphones require a low level electric signal (usually 48V or 12V) to work properly. Phantom Powered Mic Jacks send the needed DC Power to the microphone. Technically it "directly or indirectly supplies the voltage used for polarizing the microphone's transducer element ("capsule")." Click here for more Technical Information.
Pre-Amplifier or PreAmp
In every sound system there are at least three components. The First is the Preamp, the Second is the amplifier, and the last is the speaker or speakers. The Pre-Amp is the electronics that take the signal coming from the various inputs (like CD Players, Microphones and MP3 Players) and mix them together so one combined sound signal is sent to the amplifier. The Amplifier then increases the signal (basically increasing the volume) so that its strong enough to power the speakers. The Pre-Amplifier often controls the volume of the various inputs, equalizer functions (which control the tone of the music - highs, mids and lows), and may even control which devices receive power and when. A digital preamp uses digital (remote or push button menus) rather than analog (knobs and switches) to control these various functions.
Tone Control
Tone control modifies the balance of bass or low tones compared to treble or high tones. If you adjust the tone control counter clockwise (toward the left) it elevates the bass tones, and diminishes the treble tones. If you adjust the tone control clockwise the treble tones are elevated. What setting you have the tone set at is based upon personal preference and the type of output you desire. If playing music you may prefer to move the tone control slightly counter clockwise (more bass) for R&B or Rock, but move it clockwise (more treble) for Classical Music. If your amplifying only voices then you may want to rotate clockwise (more treble) for female voices, and counter clockwise (more bass) for men. In most cases leaving the tone control centered will be appropriate.