The notation "10^3" represents the number one thousand. In this expression, the base number 10 is raised to the power of 3, meaning it is multiplied by itself three times: 10 × 10 × 10 = 1,000. This is a common way to express large numbers in mathematics and science, making calculations easier. In everyday life, the concept of a thousand is often used to quantify items, such as counting money or measuring distances. For example, 1,000 dollars can be a significant amount for purchasing goods, while 1,000 meters is a common distance in races like the 1,000-meter run.