concession

[kuhn-sesh-uhn]

noun

1. the act of conceding or yielding, as a right, a privilege, or a point or fact in an argument.

   He made no concession to caution.

2. the thing or point yielded.

   Management offered a shorter workweek as a concession.

3. something conceded by a government or a controlling authority, as a grant of land, a privilege, or a franchise.

4. a space or privilege within certain premises for a subsidiary business or service.

   the refreshment concession at a movie theater.

5. Canadian.,  any of the usually sixteen divisions of a township, each division being 10 sq. mi. (26 sq. km) in area and containing thirty-two 200-acre lots.

concession

/ kənˈsɛʃən /

noun

1. the act of yielding or conceding, as to a demand or argument

2. something conceded

3. a reduction in the usual price of a ticket granted to a special group of customers

   a student concession

4. any grant of rights, land, or property by a government, local authority, corporation, or individual

5. the right, esp an exclusive right, to market a particular product in a given area

6. 1. the right to maintain a subsidiary business on a lessor's premises

   2. the premises so granted or the business so maintained

   3. a free rental period for such premises

7. 1. a land subdivision in a township survey

   2. another name for concession road

Other Word Forms

• concessional adjective
• nonconcession noun
• preconcession noun
• proconcession adjective
• subconcession noun
• concessible adjective

Word History and Origins

Origin of concession¹

First recorded in 1605–15; 1910–15 concession for def. 4; from Latin concēssiōn- (stem of concēssiō ), equivalent to concēss(us) (past participle of concēdere ”to concede ”) + -iōn- -ion

Word History and Origins

Origin of concession¹

C16: from Latin concēssiō an allowing, from concēdere to _concede

Example Sentences

‘In today’s market, investing a lot up front may not pay off, but being willing to make concessions at the end of a deal may be a better play.’

Read more on MarketWatch

The document, in other words, is not just a concession of defeat by Hamas, but a full and complete surrender that few in the Middle East believe the group will ultimately accept.

Read more on Los Angeles Times

His failed attempts to placate young protesters - dubbed "Gen Z Mada" - saw him sack his entire government and make other concessions to no avail.

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The analysts, led by Jan Hatzius, see a temporary extension of the current tariff pause and minor concessions from both sides as being likely.

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Pfizer promised to lower prices immediately for Medicaid buyers, an easy concession since Medicaid prices are already low and the company has relatively little exposure to the Medicaid market.

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Related Words

• acknowledgment 
• admission 
• compromise 
• deal 
• grant 
• permit 
• privilege