concession Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “concession” in the English Dictionary

"concession" in British English

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concessionnoun

uk   us   /kənˈseʃ.ən/
  • 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 ​sidesinvolved in the ​conflict made some concessions in yesterday's ​talks. He ​statedfirmly that no concessions will be made to the ​terrorists.
See also
[U] the ​act of ​admittingdefeat: The ​former president's concession came ​even before all the ​votes had been ​counted. a concession ​speech

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  • concession noun (LOWER PRICE)

C2 [C] UK a ​reduction in the ​usualprice of something, made ​available to ​students, ​oldpeople, etc.: You can get ​travel concessions if you are under 26.
(Definition of concession from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"concession" in American English

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concessionnoun

 us   /kənˈseʃ·ən/
  • concession noun (SOMETHING GIVEN UP)

[C/U] something ​allowed or given up, often in ​order to end a ​disagreement, or the ​act of ​allowing or giving up something: [C] Both ​sidesinvolved in the ​talks made concessions. [C/U] Concession can also be the ​act of ​admittingdefeat: [U] a concession ​speech
  • concession noun (SALES PLACE)

[C] permission to ​sell something, esp. in ​part of a ​storeowned by someone ​else, or a ​business that ​sells something: A lot of ​movietheaterprofits come from ​theircandy concessions.
(Definition of concession from the Cambridge Academic Content Dictionary © Cambridge University Press)

"concession" in Business English

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concessionnoun

uk   us   /kənˈseʃən/
[C or U] something that you ​agree to give someone or ​allow them to do, especially in ​order to end an argument or disagreement: concession to sb As a concession to ​environmentalgroups, the ​energygiantagreed to ​scale down its coal ​plantexpansionplans. demand/seek concessions The ​administration has ​demanded concessions from ​autoworkers as ​part of the "​viabilityplan" it is preparing.offer/make concessions We would be prepared to make concessions in ​order to ​reach an ​agreement.
See also
[C] COMMERCE a ​smallbusiness that is ​allowed to ​sellgoods, ​food, or ​services on ​propertyowned by someone else, for ​example, inside an ​airport or a large ​store: open/operate/run a concession The furniture and homeware ​retailer has recently ​opened its first concession within a garden ​centre. Fans were ​stocking up on hamburgers and hotdogs at the concession ​stand. airport/​hotel/stadium concessions
[C] COMMERCE officialpermission to ​carry out a particular ​type of ​business, or to own or do ​work on a particular ​piece of ​property or ​land, given by a ​government or ​company: The ​governmentplans to ​sell a 50-year concession to ​operate the southeastern ​railline.award/grant a concession We are delighted to have been ​awarded the concession for the ​development of the ​airport. The ​miningcompany was ​granted a concession ​agreement to mine and ​market diamonds.
[C] mainly UK a ​reduction for particular ​groups of ​people in the ​amount of ​money that has to be ​paid for something: give/offer concessions Many ​railwaysofferfare concessions for ​passengers with ​disabilities. Tax concessions will be made ​available to ​non-profitorganizations.
[C] FINANCE, STOCK MARKET the ​amount of ​money that an underwriter receives as ​payment when new ​shares are ​sold to the ​public for the first ​time: Investment ​bankerscompensatemembers of the ​sellingsyndicate through ​payment of a selling concession, which is a ​type of ​salescommission.
(Definition of concession from the Cambridge Business English Dictionary © Cambridge University Press)
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“concession” in Business English

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