Runout is measured by rotating a part, but it is not necessary that the part be rotating in its application.
Concentricity is much more difficult to measure and verify. Concentricity requires verification of size, circularity (roundness) and position of features.
Often I have seen concentricity called when runout is actually what is measured. This can be a problem for ISO or QS documentation.
Unless you are dealing with extreme precision and speed, runout is almost always a sufficuent measure of whether features are coaxial.