If you look at old toggle switches, the plate around them had the words “on” and “off”. However, with internationalization, you start to see this substituted for “1” and “0” in the computer age, representing binary yes/no, especially when printed on the face of a rocker toggle switch. Because of ubiquitous use of English in the US and ample domestic market, non-English switches came later there.
So, “1” for on, and “0” for off, as early as 1960s. But what if there is only one push button? The one and zero were combined into a new symbol, and the 1/0 along with “power button” ⏻ symbol standardized in 1973 (originally as “standby”, with the power button symbol instead having the I completely in the 0.)
A Regency TR-1 transistor radio, introduced 1955, later added a circle below its power switch and volume dial. In searching ages of equipment to see examples of transition from 1960s-70s, I also found some mis-application of the new symbol, such as a solid circle for off, the 1/0 symbol for on.
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