Exponents are shorthand for repeated multiplication of the same thing by itself. For instance, the shorthand for multiplying three copies of the number 5 is shown on the right-hand side of the "equals" sign in (5)(5)(5) = 53. The "exponent", being 3 in this example, stands for however many times the value is being multiplied. The thing that's being multiplied, being 5 in this example, is called the "base".