Here's why:
* Adjective: Describes a noun (e.g., "The game was fast paced.").
* Phrase: A group of words that act as a single part of speech. In this case, "fast paced" acts as a unit to modify the noun "game".
It's important to note that "fast" itself is an adjective, and "paced" is a verb used as an adjective here (a participle). But when combined, they function as a single unit, making "fast paced" an adjective phrase.