Catechism of the Catholic Church §2006 — excerpt
The term "merit" refers in general to the recompense owed by a community or a society for the action of one of its members, experienced either as beneficial or harmful, deserving reward or punishment.
This translation is under copyright, so only the cited words are quoted here. Follow the link for the full text. Translation: English translation of the Catechism of the Catholic Church, 2nd ed. (Libreria Editrice Vaticana), as posted at vatican.va.