Concession: meaning, definitions and examples
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concession
[ kənˈsɛʃən ]
business
A concession is a special right or privilege that is given to someone. It can also refer to a reduction in price or a discount offered by a seller to a buyer.
Synonyms
Examples of usage
- The company was granted exclusive concession rights to operate the parking lot for the next 10 years.
- As a concession to loyal customers, the store offered a 20% discount on all products.
politics
In politics, a concession is an act of yielding or compromising in response to pressure or demands from another party. It can also refer to a grant of land or property by a government to an individual or company.
Synonyms
Examples of usage
- The president made a concession by agreeing to lower the tax rates in order to reach a compromise with the opposition party.
- The government granted a concession to the mining company to explore natural resources in the protected area.
Translations
Translations of the word "concession" in other languages:
🇵🇹 concessão
🇮🇳 रियायत
🇩🇪 Zugeständnis
🇮🇩 konsesi
🇺🇦 поступка
🇵🇱 ustępstwo
🇯🇵 譲歩
🇫🇷 concession
🇪🇸 concesión
🇹🇷 taviz
🇰🇷 양보
🇸🇦 تنازل
🇨🇿 ústup
🇸🇰 ústupek
🇨🇳 让步
🇸🇮 koncesija
🇮🇸 eftirláts
🇰🇿 жеңілдік
🇬🇪 დანებება
🇦🇿 imtiyaz
🇲🇽 concesión
Word origin
The word 'concession' originated from the Latin word 'concessio', which means 'a granting'. It first appeared in English in the early 17th century. Over time, the term evolved to encompass various meanings related to privileges, compromises, and grants. The concept of concessions has been prevalent in business, politics, and other fields as a means of negotiation and compromise.
See also: concede.