Table of Contents
The word for today is…
concession (noun):
1a: the act or an instance of conceding (as by granting something as a right, accepting something as true, or acknowledging defeat)
b: the admitting of a point claimed in argument
2: something conceded or granted:
a: acknowledgment, admission
b: something done or agreed to usually grudgingly in order to reach an agreement or improve a situation
c(1): a grant of land or property especially by a government in return for services or for a particular use
(2): a right to undertake and profit by a specified activity
(3): a lease of a portion of premises for a particular purpose, also : the portion leased or the activities carried on
3a: a small business or shop where things are sold in a public place (such as a sports stadium or theater)
b concessions plural : things sold at such a business
Source : Merriam -Webster
Etymology : Concession carries two very distinct meanings in English. It is commonly used to indicate something that has been conceded (as when the politician who loses a race gives a concession speech, or when someone makes a concession in an argument). In a completely different context, the word may be found in the phrase concession stand. Where does this last use come from? Were concession stands originally set up to settle arguments or elections? Hardly. The concession in concession stand denotes “a usually exclusive right to undertake and profit by a specified activity.” The phrase is first recorded in a classified ad seeking someone to work at a booth at the 1893 Chicago World’s Fair.
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