No, this does not refer to the amount of space on your hard drive or in your closet, but it is similar. Storage is a memory-related term that refers to the ability to retain information in the brain (in memory). Memory is a process of getting information into the brain (encoding), keeping information in the brain over time (storage), and then being able to get information out of the brain when needed (retreival). In modern theory of memory, we have different types of storage; short-term memory and long-term memory.

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