What are the fundamental principles underlying electric circuits, and how do they govern the behavior of electricity in various applications? Explain the relationship between voltage, current, and resistance in Ohm's law, and how these concepts apply to both series and parallel circuits. Discuss the significance of Kirchhoff's laws in analyzing circuit behavior and their application in practical scenarios. Furthermore, how does the concept of capacitance and inductance contribute to circuit design and operation? Lastly, explore the role of semiconductors in modern electronics and their impact on devices like diodes and transistors.