A URL is just a link to a website. If you type it into the Address bar of your browser, that site will open. If you type it into a search bar, it won't automatically appear but it may give you results that lead to where you want to go.
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Web Addresses or domains are purchased on year leases from domain registrars. These names are then binded to an ip on a web server using, commonly, apache. So if you type the IP or the domain name into your browser; the site will pop up.
The Web Browser Checks with the DNS and Resolves the IP for the DNS name
and then the web server checks if the page is available if yes it renders the page on web browser or else the browser displays "Page Not Found Error"
If you type a web address in a browser it will open the site the the web address belongs to. But, if it doesn't belong to any website it will open a different page.