The MATCH function can be used as follows:
MATCH(value, array, match type) returns the value's relative position in the array. Match type is greater than, less than, or equal to.
If #VALUE is returned by an Exact MATCH, it signifies the value isn't in the array.
If it returns a positive number, it indicates that the value is an array.
IFERROR was used to distinguish between #VALUE (set to 0) and positive value (set to 1 using IF condition)
=IFERROR(IF(MATCH(A2,$B$2:$B$16,0)>0,1,0),0) is a function.