time vs period

time and period both are nouns.

Word	Noun	Adjective	Verb	Adverb
time	Yes	No	Yes	No
period	Yes	No	No	No

As nouns, period is a hypernym of time; that is, period is a word with a broader meaning than time:

time: an indefinite period (usually marked by specific attributes or activities)
period: an amount of time

Other hypernyms of time include period of time, time period.

As nouns, period is a hypernym of time; that is, period is a word with a broader meaning than time:

time: a period of time considered as a resource under your control and sufficient to accomplish something
period: an amount of time

Other hypernyms of time include period of time, time period.

time (noun)	period (noun)
the continuum of experience in which events pass from the future through the present to the past	a punctuation mark (.) placed at the end of a declarative sentence to indicate a full stop or after abbreviations
rhythm as given by division into parts of equal duration	the monthly discharge of blood from the uterus of nonpregnant women from puberty to menopause
an instance or single occasion for some event	an amount of time
a person's experience on a particular occasion	the interval taken to complete one cycle of a regularly repeating phenomenon
an indefinite period (usually marked by specific attributes or activities)	a unit of geological time during which a system of rocks formed
the period of time a prisoner is imprisoned	the end or completion of something
a reading of a point in time as given by a clock	(ice hockey) one of three divisions into which play is divided in hockey games
the fourth coordinate that is required (along with three spatial dimensions) to specify a physical event
a period of time considered as a resource under your control and sufficient to accomplish something
a suitable moment

time (verb)	period (verb)
measure the time or duration of an event or action or the person who performs an action in a certain period of time
regulate or set the time of
adjust so that a force is applied and an action occurs at the desired time
assign a time for an activity or event
set the speed, duration, or execution of