A
gift economy,
gift culture, or
gift exchange is a mode of exchange where
valuables are not
traded or sold, but rather given without an explicit agreement for immediate or future rewards. This contrasts with a
barter economy or a
market economy, where
goods and services are primarily exchanged for value received. Social norms and custom govern gift exchange. Gifts are not given in an explicit exchange of goods or services for
money or some other
commodity.