Pay-Per-Click or PPC refers to a paid online advertising method, where users bid on their target keywords, paying only when a user clicks their paid search ad.
Paid search is important for it’s SERP real estate, as the top performing ads appear above organic search results.
Costs are determined by a blend of keyword bids & quality scores of ads, landing page experience & other factors, with the winning ads paying just more than the losing one to take the preferred spot (Losing Bid + $0.01).