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Wiktionary
two-way communication

n. Any form of communication between two parties, both of whom can send and receive messages.

Wikipedia
Two-way communication

Two-way communication is a form of transmission in which both parties involved transmit information. Two-Way communication has also been referred to as interpersonal communication. Common forms of two-way communication are:

  • Amateur Radio, CB or FRS radio contacts.
  • Chatrooms and Instant Messaging.
  • Computer networks. See backchannel.
  • In-person communication.
  • Telephone conversations.

A cycle of communication and two-way communication are actually two different things. If we examine closely the anatomy of communication – the actual structure and parts – we will discover that a cycle of communication is not a two-way communication in its entirety. Meaning, two way communication is not as simple as one may infer. One can improve two-way or interpersonal communication by focusing on the eyes of the person speaking, making eye contact, watching body language, responding appropriately with comments, questions, and paraphrasing, and summarizing to confirm main points and an accurate understanding.

Two-way communication involves feedback from the receiver to the sender. This allows the sender to know the message was received accurately by the receiver. This chart demonstrates two-way communication and feedback.

[Sender] <---------
| \
[Encoding] \
| |
[Channel] [Feedback]
| |
[Decoding] /
| /
[Receiver]---------->

Usage examples of "two-way communication".

The statement does not identify the starship, but the Ministry says there had been brief two-way communication with the ship immediately before the blast, and that it had been warned not to assume orbit.

There was to be no two-way communication between him and the spaceship, since a sender would have given away his presence at once.

The council of war had more than one purpose, it was the first time he had conducted a two-way communication with his NCOs.

The rage of the suit transmitted up a link that was supposed to be unnoticeable two-way communication.

Perhaps it entailed two-way communication and perhaps it was more far reaching than seeing through another’.

As the lab staff were setting up for another part of the demo, Pangborn turned to Dulcie and said, Doctor Huber, what we're really interested in is the keyboard research, the two-way communication communication of abstract and complex messages.