Unit

Meaning :

A “unit” is defined as a single measure of a good or service, while “price per  unit” refers to the cost associated with one quantity of that good or service. This metric  is essential for calculating the total price based on the number of units purchased or  consumed.

Example : 

For instance, if the electricity bill states ₹6 per unit of electricity consumed and  you utilize 100 units, your total payment would be 100 × 6 = ₹600.

How to Understand : 

A unit signifies one piece or measurement of a specific item.

Understanding price per unit enables you to:

Comprehend how prices are determined.

Compare costs across different products or services effectively.

Control and manage your consumption levels.

Importance :

It simplifies pricing, making it clear and accessible for consumers.

It assists consumers in tracking their usage of essential services like electricity, water,  and gas.

The concept is widely used in grocery shopping, billing, and manufacturing sectors.

Awareness of price per unit helps prevent overpayment by providing insights into cost  breakdowns.