Economic System In Your Life: A Top-Quality Essay For Your Inspiration

Mike, one of my friends, had a birthday last month, and his father presented him a gift that Mike had always dreamt about. For his birthday, he received a black high-powered Chevy Camaro from his father. Definitely, it was a great birthday present from one of Mike's closest people.At first sight, it seems that the primary motivation of Mike's father was making his son the happiest person in the world by giving this amazing present. However, another motivation could be that Mike's parents were going to get divorced, and Mike's father wanted Mike to take his side in conflict.Birthday gifts are usually considered as an act of generalized reciprocity as people who gift gifts as birthday presents do not expect to get anything in return at the same moment. On one hand it was so, but as Mike's father wanted to reach his own goals and get a favor from Mike in future, this gift can also be treated as an act of a balanced reciprocity as father thought that Mike would be treating him better right after he received his birthday gift.This present will participate in the market economy as Mike will have to pay insurance costs, pay for the gas, car wash, taxes, etc. All Mike’s expenses will bring profit the companies providing the abovementioned services or funds to the state budget, so the car will take part in the country’s economy. More than that, his Chevy will become a product on the car market once he decides to sell it. At the same time, a person who sold the car to Mike's father is participating on the day of Mike’s birthday in further exchange on the car market as he buys another car from a man he never knew before.
Giving gifts is an important part of the cultural and economic system. Giving a gift to a relative is more of a social component that a part of the market economy, but in any way, in this case, giving a car as a present was a reciprocity and Mike’s father expected a specific repay.