Hi Jan,
"Adobe RGB" and "sRGB" refer to Red-Green-Blue color spaces, 3D graphs enclosing all the possible colors that can be mapped with image files taken of colored objects.
Each color defined in this 3D graph by the relative contributions of Red, Blue, or Green, brightness and saturation (ie intensity) of the colors that can be represented.
Now some colors that are particularly strong, may not be included within the boundries of the 3D graph because the overal volume of each color space, unlike the unvierse we live in, is constrained.
Adobe RGB is a larger color space. That means more of the colors captured with a digital camera, for example, can be accurately mapped into the 3D Adobe RGB color space. The are other color spaces, such as Prophoto RGB, which have an even larger 3D volume and therefore can contain even more colors.
sRGB, by contrast is a smaller color space. We say that the gamut, or range of colors that can be accurately mapped, is less than that in the Adobe RGB color space or for that matter in the even more generous ProfotoRGB space.
sRGB is used for a lot of drug store and low end commercial print centers as it is less demanding of consumers with low end monitors which are uncalibrated anyway.
You may ask "What happens to the rich colors in Adobe RGB that are outside the boundries of the gamut of sRGB?" The answer is simple but important and part of what is done for all the color-concerned devices we use.
Colors that cannot be accurately mapped because of a device's limited color space, or gamut, are "perceptually" remapped by our color management software (in our computers) so that the picture appears normal.
This process of reassigning the coordinates of a color (RGB values, luminence and color intensity) requires advanced knowledge of color perception and works well in practice. When we look at a pciture on a screen, even with a file in Adobe RGB color space, the picture has to be displayed on the screen which doesn't have the refinement to be able to produce a lot of the colors! So again the "out-of-gamut" colors have to be remapped to what the screen can display.
Even more important is the gamut of the printing device! There is no point in fiddling around in photoshop getting amazing new colors when the printer simply cannot put out that wonderful color.
Here, we want to do the least remapping as possible. So before one goes too far in phortoshop work, one should check the gamut! How, ask in a new post and we'll take that up.
Asher