A
gift or a
present is an item given to someone without the expectation of payment. An item is not a gift, if that item, itself, is already owned by the one to whom it is given. Although gift-giving might involve an expectation of reciprocity, a gift is meant to be free. In many countries, the act of mutually exchanging
money,
goods, etc. may sustain social relations 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 anything that makes the other
happier or less sad, especially as a favor, including
forgiveness and
kindness. Gifts are also first and foremost presented on occasions - birthdays and
Christmas being the main examples.