In your own words what is meant by compensationSolutionIn ge

In your own words what is meant by compensation.

Solution

In general terms, compensation is something (which has a value) given in exchange for something else. It can also be said as \"something given/received as an equivalent for services, loss, injury, suffering etc \".

For example, what an employer pays an employee (which is usually called salary) is a compensation for the services offered by the employee to the employer.

Another example is when a person is injured in an accident, the person responsible for the accident gives a compensation to the injured (for the suffering)