Allocation means reserving memory space to hold some data.
Related concepts: ValueGarbage Collection
Closest Wikipedia entry: Memory management — Memory management is a form of resource management applied to computer memory. The essential requirement of memory management is to provide ways to dynamically allocate portions of memory to programs at their request, and free it for reuse when no longer needed. This is critical to any advanced computer system where more than a single process might be underway at any time.Several methods have been devised that increase the effectiveness of memory management.
Misconceptions about Allocation13 documented Misconceptions