Arc is when, instead of shooting the ball straight at the basket, one shoots the ball more vertically and let's the ball fall into the basket. The purposes of arc on a shot are to create backspin on the ball, prevent the defense from blocking a shot, and to eliminate the reliance on the backboard and give one a more diverse variety of shots.
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You need to either put the ball in your palm a little bit more so when you snap your wrist, the ball will release higher and farther, or you need to release the ball as you are moving your arms upwards.
The chances of the ball just skimming over the rim and making it in the hoop is very unlikely. If your shot has a good arc on it, the ball could easily make it in the hoop, whether it be with or without the backboard.