Correct Exposure
The "correct" exposure for a photograph is determined by the sensitivity of the medium used. For photographic film, sensitivity is referred to as film speed and is measured on a scale published by the International Organization for Standardization (ISO). Faster film requires less exposure and has a higher ISO rating. Exposure is a combination of the length of time and the level of illumination received by the photosensitive material. Exposure time is controlled in a camera by shutter speed and the illumination level by the lens aperture. Slower shutter speeds (exposing the medium for a longer period of time) and greater lens apertures (admitting more light) produce greater exposures.
An approximately correct exposure will be obtained on a sunny day using ISO 100 film, an aperture of f/16 and a shutter speed of 1/100th of a second. This is called the sunny 16 rule: at an aperture of f/16 on a sunny day, a suitable shutter speed will be one over the film speed (or closest equivalent).
Ultimately there is no such thing as "correct exposure", as a scene can be exposed in many ways, depending on the desired effect a photographer wishes to convey.
what is f/16? its for the good exposure on a sunny day
what is metering?metering in measureing the lighting
what would you set shutter speed to take shots at 1/500th? you would have to set it at 1/1000
-http://en.wikipedia.org/wiki/Exposure_(photography)
Determining Exposure
Long exposures can create very interesting photos.
The zone system is another method of determining exposure and development combinations to achieve a greater tonality range over conventional methods by varying the contrast of the 'film' to fit the print contrast capability. Digital cameras can achieve similar results (high dynamic range) by combining several different exposures (varying only the shutter speeds) made in quick succession.
Today, most cameras automatically determine the correct exposure at the time of taking a photograph by using a built-in light meter, or multiple point meters interpreted by a built-in computer, see metering mode.
-http://en.wikipedia.org/wiki/Exposure_(photography)