Camera Exposure, Aperature, ISO & Shutter Speed

EXPOSURE TRIANGLE: APERTURE, ISO & SHUTTER SPEED

Each setting controls exposure differently:

Aperture: controls the area over which light can enter your camera
Shutter speed: controls the duration of the exposure
ISO speed: controls the sensitivity of your camera's sensor to a given amount of light

One can therefore use many combinations of the above three settings to achieve the same exposure. The key, however, is knowing which trade-offs to make, since each setting also influences other image properties. For example, aperture affects depth of field, shutter speed affects motion blur and ISO speed affects image noise

Shutter Speed determines when a cameras lenses open long enough to let the light infiltrate the lens.  The shutter speed specifically refers to how long this light is permitted to enter the camera. "Shutter speed" and "exposure time" refer to the same concept, where a faster shutter speed means a shorter exposure time.

Shutter Speed	Typical Examples
1 - 30+ seconds	Specialty night and low-light photos on a tripod
2 - 1/2 second	To add a silky look to flowing water Landscape photos on a tripod for enhanced depth of field
1/2 to 1/30 second	To add motion blur to the background of a moving subject Carefully taken hand-held photos with stabilization
1/50 - 1/100 second	Typical hand-held photos without substantial zoom
1/250 - 1/500 second	To freeze everyday sports/action subject movement Hand-held photos with substantial zoom (telephoto lens)
1/1000 - 1/4000 second	To freeze extremely fast, up-close subject motion

The Apperature setting will control the are light will cover in a lens. 

By the Numbers. Every time the f-stop value halves, the light-collecting area quadruples. There's a formula for this, but most photographers just memorize the f-stop numbers that correspond to each doubling/halving of light:

Aperture Setting	Relative Light	Example Shutter Speed
f/22	1X	16 seconds
f/16	2X	8 seconds
f/11	4X	4 seconds
f/8.0	8X	2 seconds
f/5.6	16X	1 second
f/4.0	32X	1/2 second
f/2.8	64X	1/4 second
f/2.0	128X	1/8 second
f/1.4	256X	1/15 second

The ISO Speed will determine the sensitivity of light within the shot.  However, unlike aperture and shutter speed, a lower ISO speed is almost always desirable, since higher ISO speeds dramatically increase image noise.