A Time-Sharing System is a computing environment that allows multiple users to access a computer's resources simultaneously. This system divides the computer's time among users, enabling them to run programs and perform tasks without interfering with one another. Each user gets a small time slice of the CPU's processing power, which creates the illusion of dedicated access. These systems are essential for maximizing resource utilization and improving efficiency in environments like universities and businesses. By using a Time-Sharing System, organizations can support many users on a single machine, making it cost-effective and convenient for collaborative work and data processing.