A simple cut in the timeline means that you are putting a cut in the video to insert a diffrent clip. When you cut, the other clips in the timeline you leave a space .

A ripple edit is whendelets the gap in an edit. You do this by right clicking and selecting ripple edit. When you ripple delete, the other clips to the right of the deleted clip move over.

Lifting and extracting are two ways to cut clips at one time. To do this, you set the end and in points and then cut in the time line panel and  you click either lift or extracting button depending on the edit you want.Lifting is like pulling a clip stright out, while extracting is like deleting and shifting the clips over, in terms of what happens to the other clips in the timeline.

This is an example of an extracting edit.  I decided to extract the two clips where I did because i felt that it gave less time of the hourse walking around and more action to the viewer of seeing the jumps.