CPU Scheduling is the process by which a computer's operating system decides which tasks or processes get to use the CPU at any given time. This is crucial because the CPU can only handle one task at a time, and efficient scheduling ensures that all processes receive fair access to the processor, improving overall system performance. There are various algorithms for CPU Scheduling, such as First-Come, First-Served and Round Robin. Each algorithm has its strengths and weaknesses, affecting factors like response time and throughput. The choice of scheduling algorithm can significantly impact how quickly and efficiently tasks are completed.