Step 1 :Given the set \{mom, dad, son, daughter\}, we are asked to find the number of subsets of this set.
Step 2 :The number of subsets of a set is given by the formula \(2^n\), where \(n\) is the number of elements in the set.
Step 3 :In this case, the set has 4 elements, so we substitute \(n = 4\) into the formula.
Step 4 :Calculating \(2^4\), we get 16.
Step 5 :So, the number of subsets of the set \{mom, dad, son, daughter\} is \(\boxed{16}\).