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In JavaScript, 'this' is a keyword that has different meanings depending on where it is used. In global scope, 'this' refers to the global object. In a function, it usually refers to the global object in non-strict mode and to undefined in strict mode, unless the function is called in a specific context. In an object method, 'this' refers to the object that owns the method. In constructors, 'this' refers to the new object being created. Mastering 'this' is crucial for JavaScript beginners to understand object-oriented programming in the language.

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