What's a standard drink?
In the US, one standard drink contains 14 grams of pure alcohol — that's about a 12 oz beer at 5%, a 5 oz glass of wine at 12%, or a 1.5 oz shot of 40% spirits. The number is a fixed reference so you can compare a beer to a bottle of wine to a handle of vodka on equal footing.
Why bang-for-buck beats sticker price
A $9 six-pack of light beer and a $20 fifth of bottom-shelf vodka are not comparable by price alone. The six-pack holds about 6 standard drinks ($1.50 each); the fifth holds about 17 standard drinks ($1.18 each). The vodka wins per-drink even though it costs more total. Price per standard drink is the only honest comparison.
Cheat sheet — common container sizes
Beer: 12 fl oz (355 mL) can, 16 fl oz (473 mL) tall can, 12 fl oz × 6 = 2,129 mL six-pack, 12 fl oz × 30 = 10,647 mL rack. Wine: 5 oz (147 mL) pour, 750 mL bottle, 1.5 L magnum. Spirits: 750 mL fifth, 1,000 mL liter, 1,750 mL handle / half-gallon. Shots: 1.5 fl oz (44 mL) single, 3 fl oz (89 mL) double.