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For example, if a traveler has a choice between a coach which takes six hours and costs £10, or a train which takes four hours and costs £30, we can deduce that if the traveler chooses the train, their value of time is £10 per hour or more (because they are willing to spend at least £20 to save two hours' travel time).
Central European Time (CET) is a standard time of Central, and parts of Western Europe, which is one hour ahead of Coordinated Universal Time (UTC). The time offset from UTC can be written as UTC+01:00 .
Pale colours: Standard time observed all year Dark colours: Summer time observed During British Summer Time (BST), civil time in the United Kingdom is advanced one hour forward of Greenwich Mean Time (GMT), in effect changing the time zone from UTC+00:00 to UTC+01:00, so that mornings have one hour less daylight, and evenings one hour more.
Pale colours: Standard time observed all year Dark colours: Summer time observed Central European Summer Time (CEST, UTC+02:00), sometimes referred to as Central European Daylight Time (CEDT), [1] is the standard clock time observed during the period of summer daylight-saving in those European countries which observe Central European Time (CET; UTC+01:00) during the other part of the year.
Finland observes daylight saving time by advancing the clock forward one hour from Eastern European Time in UTC+02:00 to Eastern European Summer Time in UTC+03:00 at 03:00 EET on the last Sunday in March and back at 04:00 EET on the last Sunday in October. [34] [35] Finland has observed daylight saving time since 1981. [32]
The Indian Standard Time was adopted on 1 January 1906 during the British era with the phasing out of its precursor Madras Time (Railway Time), [2] and after Independence in 1947, the Union government established IST as the official time for the whole country, although Kolkata and Mumbai retained their own local time (known as Calcutta Time and Bombay Time) until 1948 and 1955, respectively. [3]
Time in the Middle East UTC+02:00 UTC+03:00: Eastern European Time / Israel Standard Time / Eastern European Summer Time / Israel Summer Time UTC+03:00:
East Africa Time, or EAT, is a time zone used in eastern Africa. The time zone is three hours ahead of UTC ( UTC+03:00 ), which is the same as Moscow Time , Arabia Standard Time , Further-eastern European Time and Eastern European Summer Time .