One of the biggest factors in the sound of an acoustic guitar is the kind of wood that is used in its construction. Spruce, mahogany, maple, rosewood and others are used in different combinations and in different designs to create each acoustic guitar. If you want a great sounding guitar, look for these and similar tone woods when choosing your next acoustic. And be aware that solid woods create the best sounding guitars.
Lower quality and lower priced guitars sometimes use laminated wood in their construction. Laminate means that there are very thin layers of wood glued together to create the sides, back and top of the guitar. This is done to save money during construction and to make the best possible use of the guitar maker's current inventory of tone woods because lesser quality wood and wood with imperfections can be hidden within the laminate layers.
Some guitar makers will use the words "rosewood back and sides" for example, without mentioning if they mean a piece of solid rosewood is used. They may in fact use laminates but simply fail to say so. There is nothing wrong with this, and it's not false advertising in any way. They are simply leaving out some details about their guitars. Here's a tip: guitar makers that use solid woods almost always say so when describing their instruments. Be sure you know the difference before laying down your hard earned dough.