When I split a number in the powers of 2. I am able to make any combination of any number that is less than it by taking each number of the series only once.
For example:
$7=1+2+4$
I can construct any number less than or equal to seven using the $3$ numbers $1,2,4$.
Or take $10$ for instance:
$10 = 1 + 2 + 4 + 3$
I can construct any number that is less than or equal to $10$ using the 4 numbers.
How this decomposition is done is via breaking the number in powers of 2 until you can't break it anymore. More examples:
5 -> (1, 2, 2)
10 -> (1, 2, 4, 3)
15 -> (1, 2, 4, 8)
1000 -> (1, 2, 4, 8, 16, 32, 64, 128, 256, 489)
Does this method of decomposition have a name? And how does it allow us to make any number that is less than or equal to it?
There is a process of breaking a number into a sum of powers of $2$, called the binary expansion. To do this, you first see what is the largest power of $2$ that is smaller than your number. Then you take it out, and iterate.
This is different from your own process, because what you do is take powers of $2$ from the smallest ($1$) and keep going till the next larger doesn't fit. However, the usual binary expansion is quite useful, as shown for instance by the example below.
Using it to compute powers efficiently in time is called the fast exponentiation algorithm, or exponentiation by squaring. E.g. to compute $x^7$ all you need is $x$, squared into $x^2$ squared into $x^4$ and multiply all three $$x^7=x\cdot x^2\cdot x^4$$