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concession (noun) doing something or giving something to others, to end an argument or a dispute; a special right granted to a person by an employer or a government; a reduction on prices; giving a right.
When you give something to others with a view to settling a quarrel or a dispute, you make a concession. That is, you concede something. Employees win concessions from the management when the management agrees to all or some of their demands. When you are not very strict or rigid in dealing with people, you make concessions. For example, you make concession to a person's age, if you are less firm with them than with others. The government has announced certain tax concessions. That is, the government has reduced tax in certain cases. The grant of a right to someone to carry out business, for example, in a certain place is also a concession. A reduction in price is also a concession. 'The shop offers a 10% concession on all goods sold during the Christmas week.' This means it reduces the prices by 10%.
- Each of the brothers in their dispute over their ancestral property has to make concessions, give or take something from the other, if they are serious about ending the dispute.
- The government has announced certain special tax concessions to senior citizens and the members of the armed forces. It has come as a relief to old Smith, now more than 75, as he will pay much less tax than before.
- The workers are very happy over the concessions they have won from the management. The thing that they liked most among them is the free higher education facility for their children.