The A343F is a 4 speed automatic with overdrive (O/D). What this means is that there are 4 gear ratios, and the last one (4th) is overdriven (the output shaft spins faster than the input shaft). 3rd gear is "direct drive" since it is a 1:1 ratio (input and output shaft speed is the same), while 1st and 2nd are underdrive (output shaft spins slower than the input shaft). The transmission also has a locking torque convertor which allows it to minimize the power loss that is present in automatic transmissions due to the fluid coupling. The torque convertor can only lockup in 4th gear (a.k.a. overdrive).
On the centre console your shifter has three forwards-drive positions: 1, 2, and D (3rd). You also have the O/D switch on the shifter handle, which is essentially just saving you from having a fourth shifter position. With the shifter in D and the O/D switch on (pushed in, no light on the dash) the transmission has free range of all 4 gears, and can lock the torque convertor when in 4th (O/D). With the O/D switch off (popped out, light on the dash) the transmission can only use gears 1,2, and D (3), and the torque convertor will not lock. With the shifter in 2nd, it is limited to 1st and 2nd, and with the shifter in 1st, it is limited to first gear only.
Gear Ratios (found online)
1st: 2.804:1
2nd: 1.531:1
3rd: 1:1
4th (O/D): 0.753:1
Hope that helps!