Answer:
encoding, storage, and retrieval
Explanation:
According to the psychologists three stages are responsible for the memory and learning process: they are encoding, storage, and retrieval.
1. Encoding: This is the first phase of the learning process of particular information. Encoding involves three basic areas through which memory of a particular information is being encoded; these are acoustic, semantic, and visual encoding.
2. Storage: It refers to the ability to retain a particular information in the memory. In other words, it maintains information over time.
3. Retrieval: It refers to the phenomenon of accessing a piece of information whenever required that is taking out the information from the memory to the conscious awareness.
Governments apply a Minimum Wage policy on Businesses to ensure the employees working for the businesses do not get exploited and get paid fairly. The trade off here is that with the Minimum Wage law in effect the businesses would face an increase in labor costs, since they gotta pay them more than if there was no Minimum Wage law, and businesses would lose out on some profit due to this increase in labor costs. To reduce these costs businesses might let go of some employees, either by firing them or making them redundant (either way the employee is losing the job) and this increases the Unemployment Rate in the country which the government does not like, as one of the government’s aims is to keep the Unemployment Rate low in their country but with their Minimum Wage law in effect they keep the businesses in check to ensure they don’t exploit their workers but they end up increasing the Unemployment Rate due to Businesses trying to retain (get back) some of their lost profit (that they lost due to the government’s Minimum Wage law).
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