Final answer:
The process of transferring encoded information from short-term to long-term memory is called consolidation. Understanding this process is essential for psychology students as it is one of the three main functions of memory, which also include encoding and retrieval.
Step-by-step explanation:
The process by which encoded information is transferred from short-term to long-term memory is known as consolidation. This is a crucial process in the overall function of memory, which involves encoding, storage, and retrieval. Encoding is the initial learning of information; storage is maintaining information over time; and retrieval is the ability to access the information when you need it.
Long-term memory is believed to have an unlimited capacity for storage, and its organization is essential for efficient retrieval through processes like recall and recognition. Once information has bypassed the short-term memory constraints and potential decay, it is then consolidated into long-term memory where it can reside indefinitely. This understanding of memory functions and processes is crucial for anyone studying psychology and is part of foundational learning within the field.