"Long range" usually refers to distance, and "long term" refers to time.

Range means.:: a group or collection of different things or people that are usually similar in some way : a series of numbers that includes the highest and lowest possible amounts : the total amount of ability, knowledge, experience, etc., that a person has. And term means:: a word or phrase that has an exact meaning : the particular kinds of words used to describe someone or something : the length of time during which a person has an official or political office Both qord s have their different can...they are always differentbto each other...difference can be..associated in short range and long range..or short term and long term

As Peachey said, "Long range" _usually_ refers to distance, and "long term" refers to time. Although 'long range' can also refer to time - for example we use 'Long range weather forecast' e.g. http://www.radionz.co.nz/news/weather/longrange and http://en.wikipedia.org/wiki/Long-range_dependency I think that possibly "Long range" may be used to refer to periods of time where time is a variable in a mathematical or physical relationship.