The word extrinsic means something external, which is operating and coming from outside. The motivation a person gets from any external source is extrinsic motivation.
In extrinsic motivation, the person gets motivated by getting any reward. Extrinsic motivation can also be understood as operant conditioning. The meaning of operant conditioning is the behavior in which rewards and punishments are used. The recurrence of specific behavior also depends upon the same. It is better if students are intrinsically motivated and teachers can help students to be intrinsically motivated by creating a good learning environment.
In this type of motivation, rewards can be fame, praise, or money, anything which motivates the person.
An example of the said motivation is getting a salary in a job. One may like other things despite the job, but if he/she is doing the job just because of the motivation of the paycheck. It means that the person is extrinsically motivated.
Rewards for extrinsic motivation can be either tangible or intangible.
An example of intangible motivation is fame or praise, getting discounts on customer loyalty, getting free products in a ‘buy one get one’ sale, frequent flyer miles, etc.
Examples of tangible extrinsic rewards are getting a trophy by competing in sports, getting money for the completed work, etc.
There are other examples of extrinsic psychological rewards, such as performing any task to avoid judgment, getting things done for the sake of attention, etc.