In a normal switch the two terminals are either connected as shown or disconnected. These switches use 3 types of wires.

Ks 8933 Gang 2 Way Light Switch Wiring Diagram 3 Light
Difference between 2 way and 3 way light switch. A pair of two way switches is used to allow a lamp to be operated from two different locations such as from the bottom or top of a staircase. Single pole switches with one switch controlling one light are marked with an on and off position. These switches have 3 terminals. These switches actually have 4 terminals. Do not have an onoff switch. These switches use only 2 types of wires.
These switches dont have hot wires. When they are connected the switch is on in a three way switch the top terminal connects to one or the other of the bottom two terminals. While more uncommon this is a good option for large rooms with several entrances. This type of switch must be combined between two three way switches to form a circuit. Installing 2 way switches are easy. A four way switch is similar to a three way except it has four terminals plus a ground terminal and controls one fixture from three locations.
These have onoff switches. A three way switch has no marking because there is no consistent on or off position. These switches have hot wires. In north america for some odd reason a two way. The on off can change depending on the position of the second three way switch. Take a look at the switches in your home.