There are many ways/tools. The exposure slider is one, 'though it's sort of a 'sledghammer' approach. I prefer to do exposure correction in Lightroom, and apply the changes to the raw file using the highlights, whites, blacks and shadow sliders as well as the curves adjustment tool to get exactly the level of exposure I want across the image. If I'm doing any corrections in Photoshop, then I tend to use Levels or Curves adjustment layers.
Photoshop Camera Raw and Lightroom's Develop module use the same software Adobe Camera Raw (ACR).
Photoshop CC has Adjustment Layers that better allow local edits.
Often we don't want or need to adjust the entire image frame with a global edit.
Using Photoshop's precision and varied Selection tools we can locally 'mask' an area in the image frame we do, or don't, want edited.