Meaning of CONCESSION in English

CONCESSION

n.1 a the act or an instance of conceding (made the concession that we were right). b a thing conceded.

2 a reduction in price for a certain category of person.

3 a the right to use land or other property, granted esp. by a government or local authority, esp. for a specific use. b the right, given by a company, to sell goods, esp. in a particular territory. c the land or property used or given.

Derivatives:

concessionary adj. (also concessional).

Etymology: F concession f. L concessio (as concede)

Oxford English vocab.      Оксфордский английский словарь.