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Is my understanding correct?
Fixed - For positioning of elements in relation to entire view port. Relative - For positioning of elements in relation to its own current position. Absolute - For positioning of elements in relation to its parent element. Is there anything else I need to understand !
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Yes, you’re pretty much on point. Here’s a deeper look into it too, if you need it: https://www.w3schools.com/css/css_positioning.asp