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Whenever you add text, you have to set its size. It can be fixed in pixels, but you can also set it relatively just as you can do with CSS.
Just like every other element on your page, the <canvas> has a font size that is based on what you defined in your CSS. It's not different from what you are used to when dealing with your HTML4 page. Let's have a small recap of relative font size notions to understand how it works in canvas.