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Buffer – This tool was designed to work primarily with Lines and Polygons, but is effective with Points as well
Trade Area – Only works with Points. If you create a trade area around a polygon, the Trade Area tool will use the polygon’s centroid as the basis for creating the trade area. The Trade Area tool should only be used with point spatial objects.
Non-Overlapping – Points Only. To create non-overlapping buffers around Point spatial objects, use the Trade Area tool instead of the Buffer tool, and check the “Eliminate Overlap” checkbox. It is not possible to create a non-overlapping trade area from line or polygon spatial objects.