PPC means paid for click and adsense is a source of making money from Ads display on your site its very long to explain so if you want detail info contact me at
PPC - pay per click is all about business who want to show their ads on google and content network partner of it. and adsense is services by google you can earn money from it by putting it on your blog or website when some 1 clicks on it that click will get paid.
Read all about it on http://www.google.com/adsense - you'll pick up plenty of tips in this forum if you are interested in starting - it takes time building up good money - I joined in February 2007. I had a background in magazine advertising and find AdSense a much better way of producing ad revenue. It rewards quality content and does not involve felling trees - can't be bad
As mentioned above, PPC = pay per click and Adsense = advertising, but if you put them together PPC + Adsense it means arbitrating with the help of made for adsense (MFA) sites