The document summarizes the history and components of a basic electric toaster. It then describes the step-by-step process of how a toaster works: (1) the user plugs in the toaster and turns the switch, (2) slices of bread are inserted into the slots, (3) pressing the handle closes the contacts and starts heating the nichrome wires, (4) springs and an electromagnet hold the bread in place as it toasts, and (5) after the set time the electromagnet cuts off power, allowing the springs to eject the toasted bread.