A gift or a present is an item given to someone without the expectation of payment or return. An item is not a gift if that item 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 any item or act of service 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 such as birthdays and holidays.
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In an effort to reduce costs, many mass-producers of toys locate their factories in areas where wages are lower. China manufactures about 70 percent of the world’s toys and is home to more than 8,000 toy firms, most of which are located in the Pearl River Delta of Guangdong Province. 75% of all toys sold in the U.S., for example, are manufactured in China. Issues and events such as power outages, supply of raw materials, supply of labor, and raising wages that impact areas where factories are located often have an enormous impact on the toy industry in importing countries.
The oldest and, perhaps most common construction toy is a set of simple wooden blocks, which are often painted in bright colors and given to babies and toddlers. Construction sets such as Lego bricks and Lincoln Logs are designed for slightly older children and have been quite popular in the last century. Construction sets appeal to children (and adults) who like to work with their hands, puzzle solvers, and imaginative sorts.
It is not unusual for some animals to play with toys. An example of this is a dolphin being trained to nudge a ball through a hoop. Young chimpanzees use sticks as dolls – the social aspect is seen by the fact that young females more often use a stick this way than young male chimpanzees. They carry their chosen stick and put it in their nest. Such behaviour is also seen in some adult female chimpanzees, but never after they have become mothers.
Blowing bubbles from leftover washing up soap became a popular pastime, as shown in the painting The Soap Bubble (1739) by Jean-Baptiste-Siméon Chardin. Other popular toys included hoops, toy wagons, kites, spinning wheels and puppets. The first board games were produced by John Jefferys in the 1750s, including A Journey Through Europe. The game was very similar to modern board games; players moved along a track with the throw of a dice (a teetotum was actually used) and landing on different spaces would either help or hinder the player.
Having carefully considered the subject of the above discourses, and wondering within myself whether the present times were propitious to a new prince, and whether there were elements that would give an opportunity to a wise and virtuous one to introduce a new order of things which would do honour to him and good to the people of this country, it appears to me that so many things concur to favour a new prince that I never knew a time more fit than the present.
A significant fraction of gifts are unwanted, or the giver pays more for the item than the recipient values it, resulting in a misallocation of economic resources known as a deadweight loss. Unwanted gifts are often regifted, donated to charity, or thrown away. A gift that actually imposes a burden on the recipient, either due to maintenance or storage or disposal costs, is known as a white elephant.