Final answer:
The 'tip of the tongue' experience is a metacognitive event where a person is aware of memory's presence but cannot retrieve it, reflecting knowledge of their own cognitive state.
Step-by-step explanation:
The "tip of the tongue" (TOT) phenomenon relates to metacognition as it represents self-awareness of one's own cognitive processes. It specifically indicates an awareness that a piece of information is stored in memory even though it cannot currently be retrieved, which demonstrates metacognitive knowledge about what one does and does not know. Practicing metacognitive strategies, like being aware of this phenomenon, can help an individual engage in higher-order thinking and enhance their memory retrieval abilities.