The term 'power symbol' is used to refer to two symbols commonly used in mathematics: the caret (^) and the EXPONENT (E). The caret is a symbol that is used to indicate an EXPONENT, or a number that is raised to a certain power. The EXPONENT is a superscripted number that indicates the power to which a number is being raised. Both of these symbols are used to represent exponential functions, which are mathematical equations that involve raising a number to a certain power.