Parametric equ's, derivatives, velocity? Confused!

Im having a little trouble understanding what exactly the derivative of parametric equations gives you, say where x and Y are positions and both a function of time.

I know that regular equations where position is a function of time has a first derivative that gives velocity of position/time. second derivative gives position/time^2.

What exactly does dy/dx give you for parametric? and (d^2y)/(dx^2)?

And how would you go about finding the instantaneous velocity and acceleration of position versus time?

If you can help, thank you , seriously.

Dub