Process Scheduling is a method used by operating systems to manage the execution of multiple processes. It determines which process runs at any given time, ensuring that system resources are used efficiently. This helps maintain a balance between responsiveness and resource utilization, allowing users to run applications smoothly. There are various algorithms for Process Scheduling, such as First-Come, First-Served and Round Robin. Each algorithm has its own advantages and disadvantages, affecting factors like wait time and CPU utilization. By selecting the appropriate scheduling method, operating systems can optimize performance and improve user experience.