Node provides a single thread to programmers so that code can be written easily and without bottleneck. Node internally uses multiple POSIX threads for various I/O operations such as File, DNS, Network calls etc.
When Node gets I/O request it creates or uses a thread to perform that I/O operation and once the operation is done, it pushes the result to the event queue. On each such event, event loop runs and checks the queue and if the execution stack of Node is empty then it adds the queue result to execution stack.
This is how Node manages concurrency.