Blurred Action: This is when the photo is taken with a slow shutter speed. This doesn't mean the whole photo needs to be blurry it can just be the background or something. Also for a great blurry picture you can adjust the exposer time.
Stopped Action: This is when the shutter speed is very fast but still the picture is very clear. It is almost like a normal photo unless you somehow make it blurry. An example of this would be the picture of the tennis player about to hit the ball.
Panning: Panning is the effect which the camera or the video camera is moved horizontally or just scanning the subject. People who are most likely to use this is a photographer or someone filming a movie or just in general. You can set the shutter to different speeds to capture different effects such as slowing it way down (1/15 or slower) and freezing the picture.
Blurred Action: