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Usually when we talk about bus system, it is a passive communication medium which connects to components.

In the case when a common bus is shared among many components e.g. processors, memory, I/O and bus is used for only one transaction at a time, the bus arbitrator is used for allocation and deallocation.

So bus is shared for communication information among multiple devices one at a time, hence time shared.

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Q: What is the time-shared bus function?
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