Dharma

Sanskrit: Dharma
Pali: Dhamma

Dharma is etymologically derived from the Sanskrit root dhr meaning to bear or support. It is a term of great significance with three main meanings.

First, it refers to the natural order or universal law that underpins the operation of the universe in both the physical and moral spheres.

Second, it denotes the totality of Buddhist teachings, since these are thought to accurately describe and explain the underlying universal law so that individuals may live in harmony with it. It is in thi sense that it occurs as one of the three jewels (triratna) and the three refuges (trisarana), along with the Buddha and the Sangha.

Thirdly, it is used in the Abhidharma system of taxonomy to refer to the individual elements that collectively  constitute the empirical world. Some of these elements (dharmas) are external to the perceiver and others are internal psychological processes and traits of character. It is in this context that the Madhyamaka school denied the substantial reality of dharmas, claiming that all phenomena were 'empty' of any substantial reality.

---Source: Dictionary of Buddhism, by Damien Keown---