R1 + C2 = to increase amplifier gain
The LM386 has incorporated a feedback internally, though the gain is set at 20 internally, but it can be raised almost 10 times higher - that is up to 200, just by introducing a resistor and a capacitor across its pin 1 and 8.
Initial gain =15k/(1.35k +0.15k)
Adding R1 the actual Gain= 15k/(R1||1.35k +0.15k)
C3= additional power filter for the input stage of the LM386
C4= additional power filter
C5 +R2 = 'Zobel network' correcting loudspeaker impedance.
This RC group is used to make the impedance of a loudspeaker presents to its amplifier output appear as a steady resistance.
C6= a coupling capacitor. The output is capacitively coupled. The DC output voltage is Vcc/2 at pin 5 so we need to capacitively coupled in order not to disturb the internal biasing.
C1= a coupling capacitor, the microphone is also capacitively coupled in order not to disturb the internal biasing.
R3 + C7= power filter to keep noise from the power supply inducing noise in the audio signal.
R4 = external load resistor for the electret microphone.
MIC = electret microphone
The electret is really a capacitor microphone.The electret holds a static charge for a very long time and eliminates the
need for a HV bias supply. Inside the cartridge is the capacitor. Sound causes one of the platesto change its distance from the other plate so changes bias voltage. But the impedance is very high so there's also a junction FET inside the microphone with its gate connected to the capacitor plate, source at ground and drain to the output pin where is the external drain load resistor .
C8= high frequency filtering.