It is called a concept.
Using the usual for-loops, its equivalent code would be:
plain_list = []
for i in arguments:
for j in i:
plain_list.append(j)
The following is a demonstration that it is used to flatten a list of lists:
>>> arguments = [[1, 2, 3], [4, 5, 6], [7, 8, 9]]
>>>
>>> plain_list = [ j for i in arguments for j in i ]
>>> plain_list
[1, 2, 3, 4, 5, 6, 7, 8, 9]
>>>
>>> plain_list = []
>>> for i in arguments:
... for j in i:
... plain_list.append(j)
...
>>> plain_list
[1, 2, 3, 4, 5, 6, 7, 8, 9]
>>>
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