It can be used in various contexts:
* Time as a general concept: "El tiempo pasa rápido" (Time passes quickly)
* Time as a specific point or period: "En este tiempo, las cosas han cambiado mucho" (In this time, things have changed a lot)
* Weather: "El tiempo está muy bueno hoy" (The weather is very good today)
* Tempo in music: "El tiempo de la canción es muy rápido" (The tempo of the song is very fast)
Therefore, the specific definition of "tiempo" will depend on the context in which it is used.