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A URL, or Uniform Resource Locator, functions as a digital street address with different parts providing unique information. The scheme, such as HTTP or HTTPS, indicates the type of address and can be hidden by your browser. The domain name, like Amazon or Facebook, identifies the company running the site. Subdomains, like www, are common but can be omitted. Top-level domains like .com are seen on most sites. Understanding these components helps navigate the web efficiently.