The document discusses conversational exchange, including adjacency pairs, question-answer sequences, and more complex exchanges. It explains that adjacency pairs involve two strongly linked utterances by different speakers, with the first initiating and the second responding. Questions demand either a yes or no answer and constrain the interpretation of the response. Complex conversations consist of a series of exchanges of varying length and complexity. The document also covers turn-taking, with speakers using cues like intonation, pauses, and expressions to smoothly transition turns, and discusses simultaneous speech and interruption.