Easton's Bible Dictionary defines them this way as I have them below, but what is your take on it? How do you see the difference?
GRACE:
GRACE:
(1.) Of form or person (Proverbs 1:9; 3:22; Psalm 45:2).
(2.) Favour, kindness, friendship (Genesis 6:8; 18:3; 19:19; 2 Timothy 1:9).
(3.) God's forgiving mercy (Romans 11:6; Ephesians 2:5).
(4.) The gospel as distinguished from the law (John 1:17; Romans 6:14; 1 Peter 5:12).
(5.) Gifts freely bestowed by God; as miracles, prophecy, tongues (Romans 15:15; 1 Corinthians 15:10; Ephesians 3:8).
(6.) Christian virtues (2 Corinthians 8:7; 2 Peter 3:18).
(7.) The glory hereafter to be revealed (1 Peter 1:13).
Grace, means of
An expression not used in Scripture, but employed
(1) to denote those institutions ordained by God to be the ordinary channels of grace to the souls of men. These are the Word, Sacraments, and Prayer.
(2.) But in popular language the expression is used in a wider sense to denote those exercises in which we engage for the purpose of obtaining spiritual blessing; as hearing the gospel, reading the Word, meditation, self-examination, Christian conversation, etc.
MERCY:(2.) Favour, kindness, friendship (Genesis 6:8; 18:3; 19:19; 2 Timothy 1:9).
(3.) God's forgiving mercy (Romans 11:6; Ephesians 2:5).
(4.) The gospel as distinguished from the law (John 1:17; Romans 6:14; 1 Peter 5:12).
(5.) Gifts freely bestowed by God; as miracles, prophecy, tongues (Romans 15:15; 1 Corinthians 15:10; Ephesians 3:8).
(6.) Christian virtues (2 Corinthians 8:7; 2 Peter 3:18).
(7.) The glory hereafter to be revealed (1 Peter 1:13).
Grace, means of
An expression not used in Scripture, but employed
(1) to denote those institutions ordained by God to be the ordinary channels of grace to the souls of men. These are the Word, Sacraments, and Prayer.
(2.) But in popular language the expression is used in a wider sense to denote those exercises in which we engage for the purpose of obtaining spiritual blessing; as hearing the gospel, reading the Word, meditation, self-examination, Christian conversation, etc.
Compassion for the miserable. Its object is misery. By the atoning sacrifice of Christ a way is open for the exercise of mercy towards the sons of men, in harmony with the demands of truth and righteousness (Genesis 19:19; Exodus 20:6; 34:6, 7; Psalm 85:10; 86:15, 16). In Christ mercy and truth meet together. Mercy is also a Christian grace (Matthew 5:7; 18:33-35).