Lifting and Extracting

A simple cut in the timeline means to delete a clip from the timeline. When you cut, the other clips in the timeline stay where they are.
A ripple edit is when you delete a clip but the remaining clips shift together. You do this by right clicking the clip and choosing ripple edit. When you ripple edit, the other clips to the right of the deleted clip, shift to the left.
Lifting and extracting are two ways to cut out a clip at one time. To do this, you right click the clip and choose which one you wznt to do.
Lifting is like taking it away, while extracting is like replacing it, in terms of what happens to the other clips in the timeline.
This is an example of a ripple edit. I decided to ripple edit the two clips where I did because it made it appear to have continuos jumping.