Originally Posted by tonygreek
The daily budget is your cap. If your bid is $1/click, and you have an $8 daily budget, you're done at 8 clicks each day.
If you're just exploring the world of Adwords, take the time to learn the ins and outs and understand the differences between Adwords and Adwords Express. It's in your business', and budget's, best interest to use Adwords and not Express. The key differences being that Express is more expensive (you know, for the premium-priced "convenience" Google gives you) and only uses Broad Match keywords. Traditional Adwords allows for greater flexibility and the significantly more important Exact and Phrase keyword matching.
Ive just started adwords.... I guess Im a bit lost on how the bid is established? And yes, I will be doing some more research to get the answers.. but just hoping I could get the short, sweet answer here.