The darkness or lightness of a color is referred to as its value
What is value?
Value represents the degree of lightness or darkness of a color, and it is an essential aspect of how we perceive and distinguish colors.
Colors with a high value are lighter, while those with a low value are darker.
In a traditional sense
Light Colors: Colors with high values, such as pastels or tints, are considered light. These colors have a larger proportion of white mixed with the hue, making them appear brighter and closer to white.
Dark Colors: Colors with low values, such as shades, are considered dark. These colors have a larger proportion of black mixed with the hue, making them appear darker and closer to black.