What does the symbol given below denote in a circuit diagram?
Variable resistor
The symbol shown in the image denotes a variable resistor in a circuit diagram.

A variable resistor, also known as a potentiometer or rheostat, allows for the adjustment of electrical resistance within a circuit. The arrow within the symbol indicates the adjustable nature of the resistance. Unlike a fixed resistor represented by a simple zig-zag line, this symbol clearly shows a mechanism for changing the resistance value.
Let's look at why the other options are incorrect:
Therefore, the correct answer is a variable resistor because the image clearly displays the characteristic symbol used to represent a component with adjustable resistance in electrical circuit diagrams.