The simplest way to think of them is that they are transconductance devices. That is, a change in the input VOLTAGE causes a change in the channel CURRENT.
For big power MOSFETs, the transconductance is about one ampere per volt of change on the base. For weeney little TO-92 things, it's often about 1/10 to 1/2 that, or about 100ma to 500ma per volt.
There is an initial gate voltage hump to get over. You have to raise the gate voltage above the source voltage by something like 2-5V before anything at all happens. This is the "threshold voltage". Once you're over that, you get the transconductance value of current per voltage.
In the case of a MOSFET with Ygs (they use "y" for transconductance a lot) of 100ma/V and a 2.5V threshold, nothing happens til the gate is up to +2.5V, then raising it from 2.5 to 3.5V willl let 100ma flow in the drain. Assuming, of course that the external power supply and resistors, etc. will *let* that 100ma flow. But the MOSFET will.
To get voltage gain, we use this neato device that converts current flow into voltage. One of these with a constance of, say, 1000 V per ampere will convert a change of 1ma into a change of one volt. We call these resistors.
The gain of a transconductance stage is the transconductance times the load resistor as long as nothing outside restricts it. A source resistor adds negative feed back, and may lower the gain, but cannot increase it.
There is **always** a parasitic diode from source to drain in today's MOSFETs as a leftover from the manufacgturing process.