kənˈseshən noun
( -s )
Etymology: French or Latin; French concession, from Latin concession-, concessio, from concessus (past participle of concedere to concede) + -ion-, -io -ion — more at concede
1.
a. : an act or instance of conceding or yielding especially to an implied or expressed pressure, claim, demand, or request
at my age I'll make no concession to style
the union will seek further concessions before accepting a long-term contract
b. : the admitting of a point claimed in argument ; especially : the voluntary yielding of a disputable contention
2. : something granted or conceded : a thing yielded : acknowledgment , admission : boon , grant : as
a. : a grant of land or other property especially from a government in return for services rendered or proposed or for a particular use ; specifically : a tract granted to a foreign power in a Chinese treaty port or other trading center and permitted rights of extraterritoriality and local self-government
b. : a usually exclusive right to undertake and profit by a specified activity
a concession to build a canal
conflicting concessions in the oil fields
c. : a lease of premises or a portion of premises for a particular purpose, especially for some purpose supplementary to another activity (as the storing of wraps of patrons of a theater) or for providing entertainment ; often : the premises covered by such a concession or the activities for which it is granted
it was reported that some of the concessions at the fair were not honest
d. : a reduction in price from the current price of a commodity — called also price concession