gift

A gift, also known as a present, is an item given to someone without the expectation of payment or anything in return. In many countries, the act of mutually exchanging money, goods, etc., may sustain social relationships and contribute to social cohesion. Economists have elaborated the economics of gift-giving into the notion of a gift economy. By extension, the term gift can refer to any item or act of service that makes the other happier or less sad, especially as a favor, including forgiveness and kindness. Gifts are often presented on occasions such as birthdays and holidays.

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