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I know that these two functions are inverses of each other, therefore how can you define one in terms of its inverse?

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    $g(x) = f(x)^{-1}$?2017-01-12
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    or $f(g(x))=g(f(x))=x$, for all $x$2017-01-12

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Let $f(x): (0,\infty) \to \mathbb{R}:x \mapsto \log_b{x}$. Then, $f^{-1}(x):\mathbb{R}\to(0,\infty):x \mapsto b^x$, with the relationship that $$f \circ f^{-1} = f(f^{-1}(x)) = x = f^{-1}(f(x)) = f^{-1} \circ f .$$