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Meaning of “concession” - Learner’s Dictionary

concession

noun     /kənˈseʃən/
AGREEMENT [C, U]
something that you agree to do or give to someone in order to end an argument: Both sides will have to make concessions.Accepting and agreeingAccepting and agreeing reluctantlyApproving and approval
BUSINESS [C]
a special right to use buildings or land or to sell a product in a particular area, or the place where that business takes place: The company was given a concession to develop oil fields in the north.Business and commerce - general words
LOW PRICE [C] UK
a reduction in the price of a ticket for a particular group of people such as students, people without a job, or old peopleValue and price decreases
(Definition of concession from the Cambridge Learner’s Dictionary © Cambridge University Press)
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