Point and shoot cameras don’t have the ability to shoot 1x and larger magnifications by themselves, but can still be used for a variety of close-up applications. Most P&S camera today do have a macro mode that shifts the lens around a little bit to allow you to focus closer. Here is an example of my Canon G10 with and without the macro mode.
Some of the larger point and shoot type models actually have filter threads on their lens. With these models you could in theory add a reversed lens to get magnification at 1x or larger. The problem with that is if you are shooting macros with a point and shoot it is likely you don’t have a SLR or other lenses sitting around. Also if you did find one small enough to match your filter size you would almost certainly get some vignetting.