thumb|right|250px|Gifts under a Christmas tree. A gift or a present is the transfer of something without the expectation of receiving something in return. Although gift-giving might involve an expectation of reciprocity, a gift is meant to be free.

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thumb|right|250px|Gifts under a Christmas tree. A gift or a present is the transfer of something without the expectation of receiving something in return. Although gift-giving might involve an expectation of reciprocity, a gift is meant to be free.

In many human societies, the act of mutually exchanging money, goods, etc. may 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.

Presentation

thumb|200px|Traditional envelope containing money as a gift, from Japan When material objects are given as gifts, in many cultures they are traditionally packaged in some manner.