Well I imagine that a 'threshold' is a minimum limit that you have to cross to inflict damage or do any real damage and a 'resistance' is just a general percentage (or something) of a weapon's damage that is not taken. :shrug:. Not a computer player so just going purely off the terminology.
Thats pretty much exactly what it is as far as I understand it.
With DR, if a weapon does 15 damage and your armor (or a combination of armor, perks, chems, and such) has a DR of 50, then 50 percent of the weapons damage will be negated.
With DT, the if you have 28 DT, then a weapon needs to do over 28 damage in order for any real hurt to be inflicted on your character.