Long term scheduler determines which programs are admitted to the system for processing. It controls the degree of multiprogramming. Once admitted, a job becomes a process.
Medium term scheduling is part of the swapping function. This relates to processes that are in a blocked or suspended state. They are swapped out of real-memory until they are ready to execute. The swapping-in decision is based on memory-management criteria.
Short term scheduler, also know as a dispatcher executes most frequently, and makes the finest-grained decision of which process should execute next. This scheduler is invoked whenever an event occurs. It may lead to interruption of one process by preemption.