IP : Internet Protocol
Static IP : Your IP address assigned by your ISP never changes.
Dynamic IP : Each time you connect to internet a different IP address is assigned by your ISP's DHCP server.
LAN : Local Area Network. This is a network like at the office or at your house.
WAN : Wide Area Network. This is a network like in different locations connected together an office in London and an Office in Birmingham. A good example to WAN might be superstores like Tesco, Sainsbury's, Woolworths, B&Q etc...