Geologic time refers to the vast time scale that encompasses the history of Earth from its formation about 4.6 billion years ago to the present. This concept is crucial in understanding the timing and sequence of events in Earth's history, including the development of the planet's surface, climate changes, and the evolution of life forms. It is divided into several hierarchical units such as eons, eras, periods, and epochs, which help scientists organize and interpret the geological and biological changes that have occurred over time.