So imagine you're playing with your toys with some friends. You have a few blocks, some dolls, and some cars. But you and your friends want to make sure everyone gets to play with all the toys fairly. Max-min fair scheduling is like making sure everyone gets a turn with each toy, and no one gets more turns than anyone else.
Let's say you have three friends playing with you. You want to make sure everyone gets to play with all the toys for the same amount of time. So you decide to divide the time into three equal parts, one for each friend. This is called max-min fair scheduling because it makes sure that everyone gets the maximum amount of time with the toys, but also makes sure that no one person gets more than anyone else.
Now imagine there are more toys and more friends playing. Max-min fair scheduling gets a bit more complicated, but it's still the same idea. You have to figure out how much time to give each person to play with each toy so that everyone gets a fair amount of time.
In the real world, max-min fair scheduling is used in computer networks to make sure that everyone using the network gets a fair amount of bandwidth (like time with the toys). It's like making sure that no one person or application hogs all the network resources, leaving everyone else with a slow or unusable connection. Just like how you and your friends wanted to make sure everyone got to play with the toys fairly.