Adwords is Google putting Ads for you,you pay Adsense is Google putting Ads on your site(s),you get paid. All about Ads~
They are both advertising systems run by Google, the search engine. Adsense is designed for website or blog owners (known as publishers) and you will be paid for hosting adverts on your web pages. Adwords is designed for advertisers who want to promote their site or blog
As explained, with Adwords google takes money from you and with Adsense google gives money to you because you desplay their ads on your site.
Adwords and Adsense both is about advertising. But for adsense is where you run a site and put Google ads. By that, you earn through the click. While adwords is where you advertise and run PPC through Google on that.
Adsense = putting google ads on ur blog/site and you will get paid when ur ads get clicked !! Adwords = its is opposite to adsense, in this u pay to google and they put ur ads !