For an unbalanced piston, the HP (high pressure) gas coming from your tank is directly acting on the HP seat. As the tank pressure drops, the HP force acting on the seat is also drops. For example, at a full tank of 3000 psi, you will read an IP (intermediate pressure) of 145psi in your first stage and then at the end of a dive, 500 psi, you will read an IP of 125psi. The drop in
pressure gave the name "unbalanced" to first stages with this type of design. The effort needed to open the valve is much easier at 145psi, assistant from HP gas, than at 125psi given the same spring tension and thus unbalanced first stage is a little harder to breath below 500psi tank pressure. This difference is usually not significant and a good feature to let you know you're low on air.
For a balanced piston, the HP air comes from the side and does not act directly on the HP seat. So, when you see a first stage that looks like an "L" shape, it's a balanced first stage and when you see a first stage that's straight and looks like an "I", it's an unbalanced first stage. Since the air in the balanced first stage doesn't act directly on the HP seat, no assistant, it always required the same amount of force to open the valve regardless of IP pressure. The tank pressure drops just like the above example but in the intermediate chamber the pressure has to build up to a constant amount, say 145psi, to overcome the spring tension. At the end
of a dive, your tank is down to 300 psi but the IP in your first stage is still built up to 145psi and so it breaths just as smooth as you started. As a result this type of design is called balanced design.
The Mk2 is a great inexpensive reg for divers on budget because there is really nothing that can go wrong with this reg. You can take it deep (130 ft), take it cold (40+ F) and with over 40+ years on the market all bugs had been worked out. And a dumb guy like me can DIY with my mk2, you can do it too in future
Welcome and best wishes.