This is certainly not the scheme for newer webmasters to tackle. Probably the most advanced type of webpage scheme is one that generates dynamic pages from templates. This is sometimes also known as a dynamically generated page. This is usually the scheme for search engines. The search results are dynamically generated from pre-built templates using the search criteria entered by the surfer.
Pages are surfer interactive and updated in real-time.
You don't take up disk space since these pages aren't saved on the server, they are generated on the fly. You can target your advertising based on input. The answer most of the time lies in what the page content will be about and how much traffic comes to the page. If you are getting a hundred thousand or more hits to the page you will probably want to opt for static or template-built static pages. This way you can update these pages somewhat frequently but you won't be costing excess bandwith serving massive amounts of page visitors the dynamically updated content.