A concession is something you give up or allow in order to reach an agreement or make peace. It can also mean a special right or privilege granted by an authority, such as a business license.
From Latin 'concessiō', from 'concedere' ('to yield, grant'). It entered English through French, keeping the sense of granting or yielding something.
Every time you say, 'Okay, you can have that,' you’re making a concession—trading a bit of what you want for harmony or progress. Even snack stands at events are called 'concessions' because the venue grants them the right to sell there.
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