concession
//kənˈsɛʃən//
Noun
concessionSingular
concessionsPlural
1
Something yielded or granted, especially in a negotiation or argument; an acknowledgment or admission.
The company made a major concession by agreeing to reduce working hours.
2
The act of conceding or yielding, as a right, privilege, or point in an argument.
After a long debate, she made a concession and agreed to the new terms.
3
A special right or privilege granted by a government or authority, especially to operate a business within certain premises.
The company won the concession to operate the airport's food court.
4
A small business or stand selling food, drinks, or merchandise, typically at a public venue.
We bought popcorn and drinks at the concession before the movie started.