Yes, pot odds are the odds that you are getting to call a bet when you factor in the size that you must bet in relation to the size of the pot you might win compared to your chances of winning. If your chances of winning are better than the pot odds then you must call. If you must bet $10 and the pot is $50 then you are getting 5 to 1 on your bet. If you have a flush draw then your chances of making that flush draw with one card left are 4.22 to 1 against it (5 card draw scenario from the theory of poker). Since you're getting 5 to 1 for the amount of money you will win with a chance chances of winning being 4.22 to 1 then it is correct to call. If there was 60 dollars in the pot, but you had to pay 20 then the pot odds would be 3 to 1 against you and you would not call with a flush draw.

Pot odds discount things like implied odd, which are odds that take future betting into account. A situation where one of you might be all-in would be a situation that relied only on pot odds.