three thousand
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Place value is the category the number the digit is in. For example, take 123. The 1 is worth one hundred, the 2 is worth 20 and the 3 is worth 3. Actual value is the number itself in that position. So, as an example, "What digit is in the hundreds place of the number 123?" The answer would be 1.
120
It means that depending on its position, a digit will have a "multiplier value" that will make it worth more or less. In the number "123", the place-value of the digit 3 is 1, the place-value of digit 2 is 10, and the left-most place-value - for the digit 1 - is 100. In other words, the mere fact that there are other numbers to the right of the "1" make it worth more.
It is 100.
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