Unit

Meaning :

A “unit” is characterized as a singular measure of a good or service, while  “price per unit” denotes the cost associated with acquiring one quantity of that good or  service. This concept is pivotal for calculating the total price based on the quantity of  units purchased or consumed.

Example : 

For instance, if an electricity bill specifies ₹6 per unit of electricity consumed  and an individual utilizes 100 units, the total payment would amount to 100 × 6 = ₹600.

How to Understand : 

A unit represents a single piece or measurement of a particular item or service.

Grasping the price per unit facilitates:

Understanding the methodology behind price calculations.

Effectively comparing costs among various products or services.

Managing and controlling consumption patterns.

Importance :

The concept of price per unit enhances pricing clarity and transparency for consumers.

It enables consumers to monitor their usage of essential utilities such as electricity,  water, and gas.

This metric is prevalent in grocery shopping, billing practices, and manufacturing  processes.

A thorough understanding of price per unit aids in avoiding overpayment by elucidating  the breakdown of costs.