The body part that is referred to by the term "nasal" is the nose. This includes anything around, in, or near the nose like the paranasal sinuses, nasal cavities, etc.
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decentralization
The term preemption refers to a party that has the first option to buy an asset. It is a privilege offered to current stockholders before it goes public.
The term is referred to as 'Federalism'. The United States uses this practice, separating its federal, state, and local governments.
plank
The electorate