I hope this helps. Google AdWords is a quick and simple way to purchase highly targeted cost-per-click (CPC) advertising, regardless of your budget. AdWords ads are displayed along with search results on Google, as well as on search and content sites in our growing ad network, including AOL, EarthLink, HowStuffWorks, & Blogger. When you create a Google AdWords ad, you choose keywords for which your ad will appear and specify the maximum amount you're willing to pay for each click. You only pay when someone clicks on your ad. To save you even more money, the AdWords Discounter automatically reduces the actual CPC you pay to the lowest cost needed to maintain your ad's position on the results page. Google Adsense, on the other hand, is a fast and easy way for website publishers of all sizes to display relevant, text-based, un-obtrusive Google AdWords ads on their website's content pages and earn money. Because the ads are related to what your users are looking for on your site, you'll finally have a way to both monetize and enhance your content pages. In Google adsense, Google provides you with AdSense HTML ad code to place on the web pages on which you want to display AdWords ads. Then, they take care of the rest by leveraging award-winning and proprietary Google search and page-ranking technologies to deliver relevant AdWords ads to those content pages.
online advertisement using adwords, their daily expence and other setup is there in adwords website owners earn by showing these ads in their website and their earnings details in adsense
If you want to display your ads on other websites - use adwords. If you want people to display their ads on your site - use adsense.
With AdWords you will have to Spent your money in Google Advertising Campaign. and Google Adsense Google will give you $$ for Placing Google Ads on to your sites when you reached $100 Usd Google soon Issue the Cheque after month time.