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What is alchemy?

Alchemy is another word for witchcraft.

Alchemy is the study of energy and its changes.

Alchemy is a primitive form of science that paved the way for the beginnings of chemistry.

Alchemy is the art of turning ordinary materials into gold.

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The best answer is:

Alchemy is a primitive form of science that paved the way for the beginnings of chemistry.

While alchemy included practices like attempting to turn base metals into gold and sought the philosopher's stone, its broader contributions were foundational to modern chemistry.