The dynamic range is the number of brightness steps that a camera can distinguish (usually 8bits or 256 values). Because this is perhaps the main limitation of low end equipment, it is important to prevent shooting situations where there are both deep shadows and strong highlights at the same time, since the equipment won’t be able to capture the detail in these areas.
This problem is known as clipping and retrieving detail on these areas can be very hard to do in post-production.
One easy way to deal with low dynamic ranges is to avoid shooting at midday and shoot instead close to sunrise and sunset. You can also mitigate this effect by using polarizer filters, by hiding clipped areas out of focus, and by using fill light to capture the detail in dark shadows.