Dynamic range in Digital Photography

From Cambridge in Color.

"Dynamic range in photography describes the ratio between the maximum and minimum measurable light intensities (white and black, respectively). In the real world, one never encounters true white or black-- only varying degrees of light source intensity and subject reflectivity. Therefore the concept of dynamic range becomes more complicated, and depends on whether you are describing a capture device (such as a camera or scanner), a display device (such as a print or computer display), or the subject itself."

Full Article Here.