The word “grace” comes from the Latin word “gratia” which means:
1.  “favor”
2.  “thanks”
3.  “pleasing”
4.  “grateful”

The term “grace” is used many times in both the OT and the NT of the  KJV Bible…

In the Old Testament, it is translated from the Hebrew word “chen” which means:
1. precious kindness
2. pleasant favor

In the New Testament, it is translated from the Greek word “charis” which means:
1.  undeserved benefit or gift
2.  that which produces happiness, rejoicing, thankfulness
3.  to be made acceptable

The idea is this…
The term “grace” means “undeserved favor that makes one acceptable and produces a thankful and joyous attitude.

Because, we all have sinned and fall short of the glory of God, the “wages we deserve to receive is physical, spiritual, and eternal death.  Yet the Lord, by grace makes salvation available to any that repent of their sin and believe…