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Concession has multiple meanings depending on how it is used.

Concession is a type of imperialism in which private businesses invest in colonial territories in order to receive mineral rights (e.g., right to mine for gold) and land.

Concession is accepting a point of view in an argument. From the verb concede.

Concession is a lease on a part of a property for a specific use. A Concession Stand at a fair for example.