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English definition of “concession”

concession

noun uk   /kənˈseʃ.ən/ us  

concession noun (SOMETHING ALLOWED)

C2 [C or U] something that is allowed or given up, often in order to end a disagreement, or the act of allowing or giving this: Both sides involved in the conflict made some concessions in yesterday's talks. He stated firmly that no concessions will be made to the strikers.
See also
Allowing and permitting
[U] the act of admitting defeat: The former president's concession came even before all the votes had been counted. a concession speechAdmitting and confessing

concession noun (LOWER PRICE)

C2 [C] UK a reduction in the usual price of something, made available to students, old people, etc.: You can get travel concessions if you are under 26.Value and price decreases

concession noun (RIGHT)

[C] a special right to property or landMortgages and real estateRenting, hiring and hire purchase in general Renting property [C] the right to sell a product in a particular areaSelling
(Definition of concession from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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