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Concession Meaning: Definition, Examples, and Translations

๐Ÿค
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concession

[kษ™nหˆsษ›สƒษ™n ]

Definitions

Context #1 | Noun

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

discount, perk, privilege.

Which Synonym Should You Choose?

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Word Description / Examples
concession

Used when offering a special allowance or reduction granted often during negotiations or discussions.

  • After a long meeting, they made a concession to the employees' demands for better working conditions.
  • The company gave a concession on the price to close the deal.
privilege

Used when referring to a special right or advantage available only to a particular person or group.

  • He had the privilege of attending a prestigious university.
  • With her position, she enjoys the privilege of access to exclusive events.
perk

Used when referring to additional benefits or advantages that come with a job or position, beyond regular pay.

  • One of the perks of working here is free gym membership.
  • The job has many perks, including a company car and free meals.
discount

Used when talking about reducing the usual price of a product or service to make it cheaper.

  • They usually offer a 10% discount to students.
  • She got a discount on her new shoes during the holiday sale.

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.
Context #2 | Noun

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

compromise, grant, surrender.

Which Synonym Should You Choose?

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Word Description / Examples
concession

Use 'concession' when referring to something granted or yielded, often during a negotiation or dispute. It implies giving up a little to reach an agreement.

  • The company made a concession by increasing salaries to avoid a strike
  • She offered a concession to settle their differences
compromise

Apply 'compromise' in situations where both sides make mutual adjustments to reach a middle ground. It indicates a balanced solution where neither party gets everything but both get something.

  • They reached a compromise after hours of negotiation
  • The compromise required both teams to change their initial plans
surrender

Invoke 'surrender' when speaking about giving up something completely, often seen in the context of defeat or capitulation. It carries more negative connotations of loss or giving in.

  • The army decided to surrender after being surrounded
  • She would never surrender her principles despite the pressure
grant

Use 'grant' when talking about formally giving something to someone, often in an official or legal context, such as permissions, rights, or financial aid.

  • The university decided to grant the student a scholarship
  • The government will grant permits to those meeting the requirements

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

To see the translation, please select a language from the options available.

Interesting Facts

Politics

  • In politics, a concession can refer to when a candidate admits defeat after losing an election, ensuring a peaceful transition.
  • Concessions are often part of negotiations between countries to settle disputes or reach treaties.

Business

  • In business deals, concessions may occur during negotiations, where each party gives up something to reach an agreement.
  • Successful sales often involve making concessions to satisfy a clientโ€™s needs while still achieving company goals.

Psychology

  • Making concessions can help in conflict resolution and improve relationships by showing willingness to cooperate.
  • The strategy of 'give and take' is important in both personal and professional interactions to build trust.

Sports

  • In sports, referees or officials often make concessions during games for fair play, such as changing a decision after reviewing video evidence.
  • Concessions in sporting events can also refer to agreements made between teams, like rescheduling games due to unforeseen circumstances.

Origin of 'concession'

Main points about word origin

  • The word comes from Latin 'concessio', which means 'yielding' or 'permission'.
  • It entered English during the 15th century, illustrating the growing importance of negotiation in society.

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.

Word Frequency Rank

At #7,075 in frequency, this word belongs to advanced vocabulary. It's less common than core vocabulary but important for sophisticated expression.