Attached are the definitions copied directly from the FAQ section of the Garmin Connect page. Problem is, I still don't understand the differences. If anyone can clarify this it would be great...
Garmin Connect provides three Time measurements on the Details page:
Time
Time is the recording time reported by the device. For Fitness devices, this should equal the Time value reported on the device. For other devices, this should equal the amount of time elapsed from the actual Start and Finish time of an activity.
Avg Speed/Pace is based off the Time value.
Moving Time
Garmin Connect calculates Moving Time by removing the amount of time when the user is stopped. This is helpful for customers who upload activities with a Garmin device that either don't have AutoPause or have AutoPause turned off. For those who have AutoPause turned on or hit the Stop and Start button in the middle of an activity, the Moving Time should be very close or equal to Time.
Avg Moving Speed/Pace is based off the Moving Time value.
Elapsed Time
Garmin Connect calculates the Elapsed Time by the amount of time elapsed from the actual Start and Finish time of an activity. This is helpful for customers with a Garmin device that have AutoPause turned on or hit the Stop and Start button in the middle of an activity. For those who don't have AutoPause or have that feature turned off on their device, Elapsed time should be very close or equal to Time.