Dynamic range is the camera sensor’s ability to capture detail in very bright and very dark parts of a scene. Cameras (or sensors) with a low dynamic range record dark shadows as a solid black or bright highlights as a featureless white.
Exposure value (EV)
A numerical value given to the amount of light in a scene. For example, bright sunlight might produce an EV of 17. In practice, cameras deal only in shutter speeds and lens apertures and you’re only likely to see EV values on handheld light meters.