The phrase 'swimming is great exercise' expresses the idea that engaging in swimming provides significant physical benefits. This statement reflects the use of a gerund, where 'swimming' serves as the subject of the sentence and emphasizes its value as a form of non-finite action that can improve fitness and health. This concept connects to the broader aspects of non-finite clauses, which can include other verb forms that do not indicate tense and can function in various roles within a sentence.
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