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A variable in Python is a reserved memory location to store values. It acts as a placeholder for data that can be manipulated throughout the program.
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Data Type: Defines the kind of value a variable can hold, such as integer, float, string, etc.
Dynamic Typing: A feature where the type of a variable can change at runtime based on the value assigned.
Assignment Operator: The '=' symbol used to assign a value to a variable in Python.