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An exposure is essentially a single image. It's the result of the combined settings that were used to capture that image. That image may or may not be the desired result, it's just an image. When purchasing film you had the choice of how many exposures you wanted : 24 exposures, 36 exposures etc but it didn't mean they would all result in perfect images.
EV or exposure value is something quite different. It's setting a mathematical value for the exposure which is based on the length of time the shutter was open, the size that the aperture was set to and the sensitivity of the film (film speed) or optical sensor, known as ISO.
A good exposure can only be judged to be so, if the desired result has achieved the objective that was required, but this could be a matter of personal taste or preference.
Different camera body manufacturers use slightly different nomenclature to describe the same thing. Canon call aperture priority AV (aperture value) and shutter priority TV (time value).
As Cathus has explained, when you are using a mode other than manual, any change you make will be compensated elsewhere to hold the exposure value as metered by the camera. To overcome this you can overide the camera's brain and under or over expose an image by adjusting the EV value to anything other than zero.
For example if you were using AV priority mode and set the aperture to f8.0, the camera body metering system will work out the ambient light conditions and come up with a shutter speed value of say 1/250. If you then decide to increase the aperture value to the next stop of F5.6 giving a wider aperture, then the camera will compensate for this and increase the shutter speed to the next stop down of 1/500. It could be that you know the camera body metering system is being fooled into under exposing the image, say a snow covered scene, so you want more light to be captured for the exposure than the camera body metering system will allow in AV mode. You could try upping the ISO sensitivity, but this would just reduce the shutter speed even more in order to set the same Exposure value.
You have two choices:
1. Use Exposure compensation of +1, which will increase the F stop value by +1 . With the camera still set in AV mode and the aperture value set at f8.0, the shutter speed will now have a value of 1/125.
2. Go to manual mode and set the values as above.
Obviously you have to decide which aperture value or shutter speed you would prefer to set for the result you want to achieve. It may be that shutter priority would be better in a different instance as you want to set the time the shutter is open and all other settings must be adjusted to suit.
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