Intrinsic and extrinsic motivation are two types of motivation that drive human behavior. Intrinsic motivation refers to the drive to perform an activity for inherent satisfaction, just for the fun or challenge of it). This type of motivation comes from within the individual and is not driven by external rewards or punishments. Examples of intrinsic motivation include playing sports because you enjoy how they make you feel, staying longer at work because you believe in your work, and using positive affirmations because you want to change your mindset positively.
On the other hand, extrinsic motivation is when we are motivated to perform a behavior or engage in an activity because we want to earn a reward or avoid punishment. This type of motivation comes from outside the individual and is driven by external factors such as financial incentives, status, and public recognition. Examples of extrinsic motivation include working overtime to earn more money, studying hard to get good grades, and exercising to lose weight.
While intrinsic and extrinsic motivation are different, they are not mutually exclusive and can interact with each other. For example, the expectation and experience of an extrinsic reinforcer can increase intrinsic motivation. A more tractable approach to understanding motivated behavior might be to consider the degree to which each type of motivation is present in a given situation.