What is "time-slice multi-threading"?
Time-slice multithreading is the convectional multithreading where CPU creates an illusion of executing more than once program at a time but the CPU can execute only one of these programs at a time. The OS maintains the illusion of concurrency by rapidly switching between running programs at a fixed interval, called a time slice. Time slice multithreading works similar to RoundRobin fashion.

For detailed understanding refer 


Definition (Convectional multithreading)
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