IPA: /kənˈsɛʃən/
KK: /kənˈsɛʃən/
A thing that is granted or admitted, often in response to demands or as part of an agreement.
The company made a concession to the workers by agreeing to a pay raise.
Concession → It is formed from "con-" (meaning together) and "cedere" (meaning to yield or go). The word describes the act of yielding or giving something up in agreement or compromise, often in a negotiation context.
Think of coming 'together' ('con-') to 'yield' ('cedere') something in a negotiation — that's what concession means.