Step 1: Identify the set A. In this case, A = {1, 2, 3}.
Step 2: Count the number of elements in set A. Here, there are 3 elements: 1, 2, and 3.
Step 3: Use the formula for the number of subsets. The formula is 2^n, where n is the number of elements in the set.
Step 4: Substitute the value of n into the formula. Since n = 3, we calculate 2^3.
Step 5: Calculate 2^3. This equals 2 * 2 * 2, which is 8.
Step 6: Conclude that the number of subsets of set A is 8.
Subsets – The concept of subsets involves understanding that a set with n elements has 2^n possible combinations of elements, including the empty set and the set itself.