Final answer:
Potlatch is a ceremonial feast in the Pacific Northwest demonstrating wealth and status through gift exchange and communal sharing.
Explanation:
Potlatch is a ceremonial feast practiced by Native American tribes of the Pacific Northwest, such as the Haida, Tlingit, Salish, and Kwakiutl. The event involves a ceremonial feast where hierarchical relations are reinforced through the exchange of gifts, showcasing the host's wealth and status.
Gift economy is a key aspect of potlatches, where the host gives away possessions to prompt reciprocal giving. The potlatch played a significant role in societal status and interdependence, emphasizing sharing and generosity over individual accumulation of wealth.
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