Once Information Is Perceived, It Is First Stored in the Short-Term

question 89

True/False

Once information is perceived, it is first stored in the short-term store, then the long-term store, then the sensory store.

---

Definitions:

Opportunity Cost

Missing potential benefits that could have been gained from unchosen options when deciding on one.

Production Possibilities

A graphical representation that shows the maximum combination of goods or services that can be produced with a fixed amount of resources.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs representing resource allocation.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs, representing the trade-offs of allocating resources between the production of those goods.