PCIe is a multi-lane serial bus. The smallest PCIe connector has one lane, while the largest has 16.
Every PCIe device can work using a single lane. More advanced devices that require (or at least can make use of) more bandwidth can use multiple lanes.
As you can see from the Wikipedia data, a single PCIe 1.x lane can provide 2.5 gigatransactions/second, which translates to a transfer speed of 250 Mb/s. Finding the theoretical maximum bandwidth for a 16-lane connector is a simple matter of multiplying the bandwidth of a single lane by 16.
Note that a 16x PCIe connector may or may not be wired with the full number of lanes. It is entirely possible to have a 16x connector that provides 8, 4, 2, or even just a single PCIe lane. Any card that fits into the slot will still work, albeit slower if the card in question could have made use of the extra lanes that aren't actually present.
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