Critical exponents are numerical values that describe how physical quantities behave near phase transitions, such as from liquid to gas. They characterize the relationship between changes in these quantities and the distance from the critical point, where the transition occurs. For example, they can indicate how the order parameter, like magnetization in ferromagnets, changes as temperature approaches the Curie point. These exponents are essential in understanding the universality of phase transitions, meaning that different systems can exhibit similar critical behavior despite their distinct properties. They are often denoted by symbols like β, γ, and δ, each representing different aspects of the transition, such as how the order parameter or specific heat diverges near the critical point.