Meaning & Definition of word "Concession"

Concession

/kənˈsɛʃən/

1. the act of conceding or yielding, especially in response to pressure or demands.
- Example: The management made a concession to the workers by agreeing to a pay raise after the strike.
2. a thing that is granted, especially in response to demands.
- Example: After lengthy negotiations, the company offered a concession to the union regarding working hours.
3. a section of land or property that is given to a person or party, often for specific use.
- Example: The park service awarded a concession to a company to operate the cafeteria within the national park.
4. a partial relinquishment of a right or privilege.
- Example: The treaty included a concession that reduced tariffs on certain goods.

From Latin 'concessio', meaning 'a granting or yielding'.

concession stand:

A booth selling food and drinks, typically at a public event.

make a concession:

To agree to give up something in a negotiation.

concession agreement:

A deal where one party grants rights to another.

concession speech:

A speech made by a candidate who has lost an election.

compromise:

An agreement reached by each side making concessions.

negotiation:

Discussion aimed at reaching an agreement.

agreement:

A negotiated and typically legally binding arrangement.

Meaning: A token gesture or compromise.

Example Sentence: That change was just a concession to the critics.

Meaning: To make a small adjustment or give something up.

Example Sentence: She made a concession on the price to close the deal.