1. Picking two names from a hat to receive a prize of $50 each is an example of a combination since it doesn't matter in which order the names are picked. Both will receive the same prize.
   
2. Picking two names from a hat, the first to receive a prize of $50 and the second a prize of $25 is an example of a permutation since order matters. Picking A then B is not the same result as picking B and then A, if you think it is just talk to A.
   
3. Picking six numbers for the Lotto 6/49 draw is an example of a combination since you can pick the numbers in any order when making your selection. The resulting 6 numbers don't change.
   
4. Picking which three horses will be leading at the end of an 8 horse race is an example of a combination. You are not concerned whether horse A is 1st, 2nd, or 3rd as long as A is in the first three.
   
5. Picking which horse will finish first, which horse will finish second, and which horse will finish third in an 8 horse race is an example of a permutation since order very obviously matters in this case.