Predicate Logic (∃y∀x)

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I'm having some issues understanding predicate logic. For example, given the proposition:

These propositions are based on a set of numbers.

$$\forall x \exists y (x \cdot y = x)$$

This means for every $x$ there exists a $y$ that when you multiply you get the same $x$ as an answer. This is true.

However the next statement is

$$\exists y \forall x (x \cdot y = x)$$

This means there exists a $y$ for all $x$'s where when you multiply that $x$ by $y$ you get $x$. I think this is also true (the number 1)

However, I am under the impression that this is wrong and I'm missing something. Could anyone help me understand better?

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The first statement says that, for every number $x$, you can find a $y$ that will act as multiplicative identity for it. It could be a different identity for every $x$.

The second statement says that there is a number that acts as multiplicative identity for every other real number. There is indeed such a number, and we call it $1$.

Does that help?