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The text explains the concept of a URL, which stands for Uniform Resource Locator. A URL functions like a street address, with different parts providing various information. The scheme, such as HTTP or HTTPS, indicates the type of address and is often hidden by browsers. The domain name, like Amazon or Facebook, identifies the company running the site and includes subdomains like www. The top-level domain, like .com, is the rightmost part of the domain name and is common across all types of sites.