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When an object is dropped, the energy transfer involved is from its gravitational energy store to its kinetic energy store. Gravitational potential energy is the energy an object possesses due to its position in a gravitational field; when the object is at a height, it has higher gravitational potential energy. As it falls, that energy is converted into kinetic energy, which is the energy of motion. The faster the object falls, the more kinetic energy it acquires, indicating a direct transfer from gravitational potential energy to kinetic energy.
This concept is fundamental in understanding energy transformations in physics, particularly in gravitational fields. The other options refer to types of energy stores that do not directly apply to the scenario of an object falling under the influence of gravity. For example, chemical energy relates to stored energy in chemical bonds, elastic energy pertains to objects that can be stretched or compressed, and thermal energy is associated with heat. These do not represent the process occurring when an object falls.