Examlex
Discuss the following approaches to discipline: hot-stove rule and progressive discipline.
Specialization
The process by which individuals, organizations, or nations concentrate on producing a limited range of goods or services, to increase efficiency and productivity.
Exchange
The act of trading goods, services, currencies, or other commodities between parties.
Self-interest
The pursuit of personal advantages and well-being, often guiding individual economic decisions.
Division of Labor
A method that breaks down the production of a product into a series of specific tasks, each performed by a different worker.
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