The noun concession comes in handy in negotiations — between countries, political parties, or even parents and their kids. Want a raise in your allowance? You may have to agree to do more chores as a concession before your parents will agree.
Although a concession in an argument is the act of yielding or granting something, don't get confused and think that a concession stand is called that because the workers are granting you popcorn at the baseball stadium. Concessions at a ballpark or at another venue are called that because the stadium has granted the right to sell food to a certain provider. Chew on that the next time you're munching on peanuts at a game.