What does "merit" mean?

Merit: Esp. in a good sense: The quality or state of deserving well; worth; excellence. Reputation is ... oft got without merit, and lost without deserving. Shak. To him the wit of Greece and Rome was known, And every author's merit, but his own. Pope.

Additional senses

  1. 2.Reward deserved; any mark or token of excellence or approbation; as, his teacher gave him ten merits. Those laurel groves, the merits of thy youth. Prior.
  2. 3.To earn by service or performance; to have a right to claim as reward; to deserve; sometimes, to deserve in a bad sense; as, to merit punishment. "This kindness merits thanks." Shak.
  3. 4.To reward. [R. & Obs.] Chapman.
  4. 5.To acquire desert; to gain value; to receive benefit; to profit. [Obs.] Beau. & Fl.

Sources