An appreciation of a situation or problem is an understanding of what it involves. They have a stronger appreciation of the importance of economic incentives. = grasp
In its simplest form, appreciation refers to an increase in the value of an asset In foreign exchange markets, it refers to an increase in the value of one currency relative to that of another
delicate discrimination (especially of aesthetic values); "arrogance and lack of taste contributed to his rapid success"; "to ask at that particular time was the ultimate in bad taste"
an increase in price or value; "an appreciation of 30% in the value of real estate" understanding of the nature or meaning or quality or magnitude of something; "he has a good grasp of accounting practices" an expression of gratitude; "he expressed his appreciation in a short note
An increase in the value of one form of currency as compared to the currency of another nation [ITDS] The increase in value of an item, specifically the increase in market value of real estate [OTS]