1. The problem is to find the set of values for $x$ such that $x \in \{1, 2\}$ and $x \geq -1$. 2. The set $\{1, 2\}$ means $x$ can only be 1 or 2. 3. The inequality $x \geq -1$ means $x$ must be greater than or equal to -1. 4. Since both 1 and 2 are greater than -1, both values satisfy the inequality. 5. Therefore, the solution set is $\{1, 2\}$. Final answer: $\{1, 2\}$