Can you tell me the definition of "solid compressed wood"? What properties does it have?

Answer 1

Do you mean Particle board or MDF?
Both are used in low end furniture construction.
They are dense materials that will flex or bend significantly under a load. They will swell when exposed to excessive moisture.
MDF is denser and more durable, but neither is suitable for projects that will see a lot of abuse. Solid wood is still king.

There is also a compressed natural wood product used for curved edges and moldings
http://www.compwood.dk/eng_faq.htm