The system of exchange in which goods or services passed from one individual or group to a other as a gift Without the need for explicit contracting for specific payments
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The system of exchange in which goods or services
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- As a matter of fact, we can say that where the system of trading in which products or services are given as gifts from one person or group to another without the necessity for explicit agreement for particular payments.
- It is very importat to understand that where gift economy or gift culture is a mode of exchange where valuables are not traded or sold, but rather given without an explicit agreement for immediate or future rewards.
- Human needs are met through the purchase of goods and services.
- There are many things that you can have as much of as you want without paying for them, such as air, which is a free gift from nature.
- This category includes the majority of the items that a man requires to fulfil his desires.
- Under some circumstances, it can be a free good and an economic good.
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