Two-way means working or allowing movement in both directions. A two-way street.
It is used of radios, of streets and of any relationship where both sides give something. A two-way conversation is the phrase people reach for when one has not been.
1adjectivetwo-wayWorking or allowing movement in both directions.
“The street became two-way again after forty years.”
two-way is a quality.
Two plus way; Old English had twiweg for a junction of two roads.
From two + way. Compare Old English twiweġ (“an intersection, a junction of two roads”).
Etymology from Wiktionary, CC BY-SA