1. **State the problem:** Simplify the expression $\frac{b^3}{b^0}$. 2. **Recall the exponent rules:** When dividing powers with the same base, subtract the exponents: $$\frac{a^m}{a^n} = a^{m-n}$$ Also, any number raised to the zero power is 1: $$b^0 = 1$$ 3. **Apply the rule to the problem:** $$\frac{b^3}{b^0} = b^{3-0}$$ 4. **Simplify the exponent:** $$b^{3-0} = b^3$$ 5. **Final answer:** $$\boxed{b^3}$$