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The multiplication principle

If one choice can be made in n ways and another in m ways, the two can be made together in n times m ways. The principle is the basis of all counting, from password combinations to the number of possible design variants.

N=n1⋅n2⋯nkN = n_1\cdot n_2\cdots n_knumber of combinations of k independent choices
N=nkN = n^kk choices with n options each

Symbols

nin_inumber of options in choice i
kknumber of choices

Example

A 4-digit PIN:

104=10 00010^4 = 10\,000 possibilities.

Check whether the choices are independent. If one choice limits another, count more carefully.
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Part of Discrete Mathematics: Combinatorics.