concession

The word “concession” means something given up or granted, especially as a compromise. In plain terms, something given up to reach an agreement, or an official right/discount granted by an authority.

“Concession” is pronounced kuhn-SEH-shuhn (/kənˈsɛʃən/ in IPA).

Here is “concession” used in a sentence: “The union made several concessions during the negotiation.”

Words with a similar meaning to “concession” include tithe.

“Concession” is a noun.

The word “concession” comes from Latin. From Old French concession, from Latin concessiō, "a grant" — from concēdō (see concede).

“Concession” is an uncommon word in modern English, usually learned at around the B2 level.

“Concession” has 2 distinct senses listed in this dictionary. The most common is: something given up or granted, especially as a compromise.

A "concession" is something one side gives up or grants, often unilaterally, while a "compromise" involves both sides giving something up to reach an agreement. In a negotiation, a concession can be one step toward a broader compromise between the parties.

In business, a "concession" refers to a right granted by an authority to run a business or use land, such as a food concession at a stadium, or it can mean a discounted price offered to certain groups. This differs from the general sense of giving something up in a negotiation or argument.

A concession stand is a small business granted the right, or concession, to sell food or goods at a specific venue such as a stadium, theater, or fair. The term draws on the business sense of "concession" as a right granted by an authority to use land or space.