The most interesting part here is that the features can be combined.
Here are a-little-time-wasting steps :

If you choose Pages per Sheet to 4, then Preview the result, after that you choose again File → Print and set again Pages per Sheet to 4, you will get Pages per Sheet of 16. Can you see the combination? You can do it again, again and again as many times as it's appropriate for printing your document. This is not magic, your text will become smaller as the Pages per Sheet goes larger.
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