The shutter speed is written like this 1/500. The larger the number the faster the cameras shutter sill open and clos, which creates stop-motion. A good example of this is photos of moving water. When you see a photo of a waterfall or a river and it looks like its not moving the photographer used a fast shutter speed; for example 1/1000. Here is an example of fast and slow shutter speeds.
The first image was taken with a shutter speed of 1/10 and the second image used 1/1250. As you can see the image with the slower shutter speed the moving objects are blurred. Where as the image with the faster shutter speed has stopped the motion of the water.
This is not the setting I choose to use but there are times when its needed and comes in handy. My favorite time is when I'm photographing runners or any fast moving sport and water.
The best thing to remember is practice helps you understand when is the right time to use it. Now its your turn. Can't wait to see what you come up with.