Exponents is basically multiplication, but it is helpful in reducing the amount of multiplication.

Here are some basic exponent rules:

Also, 2^3 means 2 x 2 x 2
Notice how the 2 repeats 3 times.
5^7 means 5 x 5 x 5 x 5 x 5 x 5 x 5
Notice how the number 5 repeats 7 times.
Hope that helped :)