You can easily resize any layer in Photoshop. This works with the text layer, photo layer, and shape layer.
To resize any layer, you can simply press command+T on Mac or Control+T on PC and you'll get the free transform tool. Now you can grab any square and resize the layer.
If you hold a shift, you can resize and change the aspect ratio.
You can also use an option called content-aware scale and scale in a way that doesn't squeeze or stretch your layer.
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