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A mute mental patient is first given a token each time he or she says a word. Next, tokens are given for speaking a complete sentence. Later, the patient is gradually required to speak more often, then to answer questions, and eventually to carry on a short conversation in order to receive tokens. This gradual improvement of the patient's communication skills is an example of
Early Retirement
The process of ending one's professional career and withdrawing from the workforce before reaching the traditional age of retirement, often incentivized by employers.
Labor Supply
The total hours that workers are willing and able to work at a given wage rate in a specific labor market.
Demand
An economic principle referring to consumer desire for products or services at a given price.
Outsourcing Strategy
A business approach where a company contracts out certain tasks or services to external providers to reduce costs and improve efficiency.
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