Definition: The word "placebo" is a noun that refers to a substance or treatment that has no active medical effect. It is often used in medical research to compare the effects of a real drug with a fake one. The fake treatment is called a placebo.
In summary, a "placebo" is a harmless treatment given to patients in studies to help researchers find out if a real drug works. It can also refer to something that is done just to make someone feel better without really solving the problem.