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The Holy Eucharist is a sacrament and a sacrifice. In the Holy Eucharist, under the appearances of bread and wine, the Lord Christ is contained, offered, and received. He is really, truly, and substantially present in the Holy Eucharist. We use the words "really, truly, and substantially" to describe Christ's presence in the Holy Eucharist in order to distinguish Our Lord's teaching from that of those who falsely teach that the Holy Eucharist is only a sign or figure of Christ, or that He is present only by His power. The word "Eucharist" means "Thanksgiving."
Christ instituted the Holy Eucharist in this way: He took bread, blessed and broke it, and giving it to His apostles, said, "Take and eat; this is My body." Then He took a cup, gave thanks, and gave it to them, saying, "Drink from it, all of you, for this is My blood of the covenant, which will be shed on behalf of many for the forgiveness of sins." Finally, He gave His apostles the commission: "Do this in remembrance of Me."
“The Eucharist is the source and summit of the Christian life. The other sacraments, and indeed all ecclesiastical ministries and works of the apostolate, are bound up with the Eucharist and are oriented toward it. For in the blessed Eucharist is continued the whole spiritual good of the Church, namely Christ himself…” (Catechism of the Catholic Church 1324)