well, remember G.E.M.S.
G= grouping. grouping is first, so do 1^2 first= 1
E= exponants. exponants are howmany times you multiply a number by itself. so 1^3 is still 1
M= multiplication, or it's opposit, division. so 1/(2^3) =1/8
S= subtract or add. there are none here, but remember this! (1/8)^2 is the acctuall problem.
oh, and by the way, your welcome.