Final answer:
True, Reciprocity is a social concept that involves the exchange of goods or services without immediate compensation. Examples include gift-giving at birthdays and weddings. Generalized reciprocity is practiced among close relationships, while balanced reciprocity guides exchange among friends and acquaintances.
Step-by-step explanation:
Reciprocity is a social concept that refers to the giving and receiving of goods or services without the expectation of immediate compensation. Examples of reciprocity include the exchange of gifts at birthdays and weddings. Generalized reciprocity, which is practiced among close relationships like family members and very close friends, involves sharing without regard for the value of objects or interest in compensation. Balanced reciprocity, on the other hand, is the unspoken logic guiding most exchanges among friends and acquaintances, where a favour or gift is expected to be reciprocated in the future. Therefore, the statement is True.