The Merriam-Webster dictionary provides a total of 18 different definitions for the word "place." One definition is a physical environment, and another definition defines "place" as a region or expanse. The following 10 definitions are quite similar.
I do not believe that this question is asking for discussion between such similar definitions. I believe that this question is asking for two definitions of the word that are quite different from each other. If that is the case, then you should look for differences in the part of speech. If "place" is being used as a noun, then either of the previous definitions work. "Place" is a location. The garage is the place that I park my car.
The word "place" can also be used as a verb. It can be used as a transitive verb meaning to put in a particular spot. I tell my students to place their homework on my podium at the start of the period.
Finally, the word can also be an intransitive verb that identifies what spot was earned in a competition. The following sentence can be used as an example, "I placed first in my recent speech competition because all of the other competitors were disqualified." If you have to use the word "place," then write the sentence as "I will place second tomorrow."