Let's say you turn on a faucet, the water flows out of the pressure tank, the water pressure slowly drops to the cut on pressure of the pressure switch, 40 lbs., it turns on the pump, pressure slowly rises to 50 lbs, the CSV acts like a pressure regulator, holding the pressure at 50 lbs., at whatever gallons per minute flow is required. Let's say an hour later another faucet is opened, the pressure stays at 50 lbs., but the gpm flow rate increases to whatever the second faucet requires. More time passes, one of the faucets is turned off, the flow rate decreases, but the pressure stays at 50 lbs, the water has been running for several hours, but the pump only started once. Now close the the other faucet, the pressure slowly rises as the small pressure tank fills, at 60 psi. the pressure switch turns off the pump.
One key thing to understand is, the pump does not run at full RPM and full current draw, it only runs fast enough, using only enough current to provide the required flow.