While this may seem pretty basic, I often get questions on what shutter speed and aperture are -- and how they relate to exposure - and to each other.
Shutter Speed is the time that the shutter remains open, when you press the shutter release button.
Exposure is determined by the combination of how long the shutter is open, and the size the lens aperture (opening).
Shutter speeds can range from one second (even longer if you have a B [bulb] option) to 1/4000th of a second on most prosumer cameras and higher on pro level cameras.
If you are shooting fast moving action, you will want to use faster settings. In low light, you will use longer settings, and may even need to put the camera on a tripod.
Here is a quick video demo of shutter speeds.