Definition

Noun: A specific amount of money demanded for a single, standard measure of a good or service. It expresses the cost relative to a fundamental unit, such as per item, per hour, per kilogram, or per mile.

Usage

This term is used to specify and compare the price of something based on a standardized measurement. It is common in economics, commerce, and everyday shopping contexts to clarify the cost efficiency or the pricing structure.

Examples

• The charge per unit for electricity decreased after the new power plant opened.
• When comparing brands, always check the charge per unit (like cost per liter) on the price label.
• The contract specifies a charge per unit of data stored on the cloud server.

Advanced Usage

• Economic Analysis: In economic models, the charge per unit is a critical variable for understanding supply, demand, and market equilibrium.
• Bulk Pricing: A lower charge per unit is often offered for customers who buy in larger quantities.

Variants and Related Words

• Unit Price (n): A common synonym, frequently used on retail shelf labels.
• Rate (n): Can be synonymous in contexts like utilities (e.g., interest rate, rental rate). However, "rate" has broader applications beyond financial cost (e.g., rate of speed).
• Price per Unit (n): A direct alternative phrasing.

Synonyms

• Unit cost
• Unit price
• Price per unit
• Rate

Related Phrases

• Cost basis: The underlying measurement (e.g., per hour, per gigabyte) to which the charge per unit is applied.
• Flat fee / Flat rate: A contrasting pricing model involving a single payment for a service regardless of usage level, as opposed to a variable charge per unit.

Noun

1. amount of a charge or payment relative to some basis
   • a 10-minute phone call at that rate would cost $5