What is Concession ?

Concession is (noun) 1. the act of allowing someone do something you do not really want them to do We insist that the children are home by 8 p.m. on weekdays, but as a concession, we let them stay out until 11 on Saturdays. 2. to make concessions to someone to change your plans so as to please someone The Prime Minister has said that no concessions will be made to the terrorists. 3. a licence to do something an oil concession


source: Easier English, Student Dictionary Upper Intermediate Level