I thought that the amount you recieve per click was determinded by how much activity on the avertised site happened as a result of that click. Eg, If the person clicks and leaves right away, maybe you get a few cents, howver if they sign up for something or buy something, then you make more $$?
No, that's affiliate marketing. Adsense pays out how ever much people pay into adwords for your keywords.
wh0 is correct, but: over time, if you get clicks that do not have good conversions for the advertiser, you get "smartpriced" meaning the the amount paid for all your clicks goes down..