If it's weighted down, no need to chase after it (5)
I believe the answer is:
paper
'it' is the definition.
The definition suggests a singular noun which matches the answer.
I don't understand the rest of the clue.
Can you help me to learn more?
(Other definitions for paper that I've seen before include "Thin material used for writing, wrapping etc" , "Telegraph, for example" , "round > tiger" , "Short essay" , "Reams or quires" .)