One Sheet, Two Pages
A single sheet of paper has two sides. Each side is considered one page. So a sheet of paper is two pages.
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One Sheet Folded, Four Pages
A sheet folded in two is a four page document. Page one is the front cover, page two is the inside front, page three is the facing page, and page four is the back cover.
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Two Folded Sheets, Eight Pages
Two folded sheets that are nested together are an eight page document.
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