Pavement is a hard surface that's covered in concrete or asphalt, like a road or a driveway. If you wipe out on your bike and land on the pavement, you may end up with skinned knees or scraped elbows.
When pavement is newly surfaced or patched, it's smooth and even — but after a long, cold winter pavement is often full of potholes and cracks. In the US, pavement most often refers to a road or street, but it can also mean any paved surface, like a sidewalk or paved area in a park. The word has a Latin root, pavimentum, "level surface that's been beaten firm."