■ noun
1》 a thing that is conceded.
↘the action of conceding.
↘a gesture in recognition of a prevailing standard.
2》 a preferential allowance, rate, or price, especially for a particular category of person: tax ~s.
3》 the right to use land or other property for a specified purpose.
↘a commercial operation set up within the premises of a larger concern.
Derivatives
~al adjective
~ary adjective
Origin
ME: from L. concessio(n-) , from concedere (see concede ).