Back to basics.
The sensor in the camera has limits on the brightest and darkest parts of the scene it can record - this is called the dynamic range. Anything too bright will be white, anything too dark will be black. On most DSLR's this range is around 8 stops.
If you meter for the sky you might get a reading of 1/8000s @ f/8, ISO 100.
If you then meter for the ground you might get a reading of 1/125s @ f/8, ISO 100.
Now the difference between the two readings in this example is just the shutter speed, it's gone from 1/8000s to 1/125s which in terms of stops is:
1/8000, 1/4000, 1/2000, 1/1000, 1/500, 1/250, 1/125
Which means the ground is 6 stops darker than the sky.
If you expose for the ground then the sky will be 6 stops over exposed. If you expose for the sky the ground will be 6 stops under exposed. That's the average reading, the brightest part of the sky to the darkest part of the ground will be well beyond the dynamic range of the sensor so you have to sacrifice one or the other.
What you meter for depends on the shot and what you'd prefer to have the most detail. Do you want to keep more detail in the sky or the ground or somewhere between the two?
A common solution to this particular problem is to use a ND grad filter which cuts back the light a certain number of stops on the top and gradually fades off towards the bottom. This lets you balance the exposure between sky and ground so the two are much closer to the same setting.
In other situations (tho not a landscape shot) you could use flash to balance things out, say a shot of a person with a sunset behind them. You expose for the sky and let the flash light up the person.
Sometimes it's just a case of choosing to expose for the highlights or the shadows. Back when I learned B+W printing I was always told expose for the whites and let the blacks take care of themselves and it's kind of stuck with me. There's no real right or wrong answer tho, whatever choice you make someone will suggest you should have done the opposite :nuts:
