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Meaning:
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the basic substance used to make, develop, build, measure etc something

physical foundation

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Cases of word usage

1) a way of thinking, set of ideas, characteristic of a person, group etc, especially as forming the basis of an economic or political system (ideology)

2) to claim, suggest (something) as necessary, especially as a basis for reasoning (postulate)

3) the level of sea halfway between high and low tide, used as the basis for measuring height of land and depth of sea (sea-level)

BASIS as in Wiktionary
BASIS as in Wikipedia