To what exactly does the "carrot-and-stick" metaphor refer?

To what exactly does the "carrot-and-stick" metaphor refer?
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Answer :

I never questioned this and your first link does not work, so I don’t know what it says. But the carrot is dangled on a string in front of the mule via a long stick to make it walk, always kept out of his reach. It is not a reward because he never gets it, it’s an enticement. The stick is kept in reserve for the mule who won’t walk for the carrot.
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