Let's consider the set \( S = \{1, 2\} \). What is the power set of \( S \)?

Step 1 ：The power set of a set is the set of all possible subsets of the original set. A subset is a collection of elements from the original set which may include the entire set and the empty set.

Step 2 ：For set \( S = \{1, 2\} \), the possible subsets are \( \{1\} \), \( \{2\} \), \( \{1, 2\} \), and \( \{\} \) (the empty set).