In layman terms:-
JDK = JRE + Development/debugging tools, where JDK is our complete package to work with Java, from creating compiling till running it.On the other hand JRE is just of running of code(Byte Code).
Note:- Whether we are installing JDK or JRE, JVM would come bundled with both the packages and JVM is the part where JIT compiler converts the byte code into the machine specific code.
JVM is Java Virtual Machine -- the JVM actually runs Java bytecode.
JDK is Java Developer Kit -- the JDK is what you need to compile Java source code.
JRE is Java Runtime Environment -- is what you need to run a Java program and contains a JVM, among other things.