Benefit Meaning

What is Benefit:

The word benefit refers to a good that is given or that is received. The benefit always implies a positive action or result that is therefore good and can favor one or more people, as well as satisfy some need.

For example, "This insurance policy gives me greater benefits than the previous one", "The work we do with children benefits them to better integrate into society."

Profit is a word that originates from Latin beneficium, which means blessing or positive action. Receiving or giving a benefit represents a good action that, with certainty, generates well-being and happiness. The most common benefits are in the economic and social fields.

The term benefit can be replaced, without modifying or altering its meaning, by the following synonyms: favor, benefit, good, performance, profit and help.

Economic benefit

The economic benefit refers to or indicates an economic gain that is obtained from an activity or investment.

For example, when an object is purchased and its payment is made in installments without altering the initial price, in the same way as if the payment were made in cash.

The economic benefit can also be exemplified through a commercial activity when a person buys an item in large quantities and then resells it, within the profit margin established by law.

The total income obtained at the end of the economic activity must cover the amount of money invested and contribute a percentage of profit.

The economic benefit of a person, business or company can be measured according to the income obtained or the percentage of final profit from the economic activity that generates greater wealth.

However, the benefits are not always related to income, it can also happen that a person works in a company because the income is high but the benefits are few or, on the contrary, the benefits make up the monthly income in another way.

For example, a company can pay for daycare for its employees' children or pay for a good health insurance service, among others. In these cases, employees avoid running these expenses because the company or institution where they work covers them.

This is also known as cost-benefit analysis, through which the advantages or disadvantages of an economic activity, job or business can be measured.

Tags:  General Sayings And Proverbs Expressions-In-English