ECONOMICS
ECONOMIC INSTITUTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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balanced reciprocity
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generalized reciprocity
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market reciprocity
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negative reciprocity
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Detailed explanation-1: -Generalized reciprocity refers to an exchange that incurs no calculation of value or immediate repayment of the goods or services.
Detailed explanation-2: -Generalized reciprocity is the phenomenon that individuals treat others in the same way that others treated them in the past. Besides the behavioral outcomes, whether intention information also manipulates generalized reciprocal behavior remains unclear.
Detailed explanation-3: -The main feature of generalized reciprocity is the exchange of goods and services without a definite time frame of when the favor should be returned. In this form of reciprocity, individuals giving out the favors do not expect to receive anything back. Such activity is commonly done among small groups or societies.
Detailed explanation-4: -Reciprocity, the most ancient mode of exchange, is the exchange of goods and services of equal value. Generalized reciprocity can be defined as when the individuals involved just assume that the exchange will balance out.
Detailed explanation-5: -Generalized Reciprocity. Balanced Reciprocity. Negative Reciprocity. 31-Jul-2020