as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
create a mental model to explain the concept of taxonomy.
user
taxonomy is a system of organization used to classify and categorize different concepts, objects, and living species using a hierarchical structure. it involves arranging different items in nested levels, from broader categories down to more specific details. in this way, it allows for easier comparisons and analysis between items and provides context for studying objects and their relationships with each other.
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