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These are generic devices that include a schematic symbol and a simulation model.
They allow you to explore behavior without being tied to a real device. Most virtual components have parameters you can change to study the effect on your design.
The component help topics cover the virtual components.
Some virtual components are only available in the premium edition of Multisim Live.
These are manufacturer-specific components with non-editable parameters in their simulation models.
Most real components are only available in the premium edition of Multisim Live.