  Realism -- the idea that the concepts in physical theories refer to 'things'
existing in the real world -- is introduced as a tool to analyze the status of
the wave-function. Although the physical entities are recognized by the
existence of invariant quantities, examples from classical and quantum physics
suggest that not all the theoretical terms refer to the entities: some terms
refer to properties of the entities, and some terms have only an epistemic
function. In particular, it is argued that the wave-function may be written in
terms of classical non-referring and epistemic terms. The implications for
realist interpretations of quantum mechanics and on the teaching of quantum
physics are examined.
