Aprincipal, a gerund, or an infinitive may be used as a noun substitute?

Gerunds and infinitves can be used as noun substitutes, but participles only function as adjectives or modifiers to the noun.

The three types of verbals (gerunds, infinitives and participles) are words that come from a verb but aren't being used as an action inside a sentence. Instead, verbals serve either as substitutes for nouns or modifiers.

You can recognize gerunds because they always end in "ing". Participles have different terminations depending on whether they're present or past, but  you can spot them as they're always used as an adjective modifying the noun. Finally, infinitives correspond to the base form of a verb following the prefix "to" and can function as nouns, adjectives or adverbs.

I can give you a quick example of the noun substitutions to clarify:

Dancing is fun (gerund used as noun).

To dance is fun (infinitve used as noun).

The dancing kids had fun (participle used as an adjective modifying the noun).

Hope this helps!

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