The term 'Olympic RACE Unit' is composed of two words, the first being 'METER, ' which is a unit of length in the metric system. It is equal to 100 centimeters and is used to measure distances in running events. The second word is 'RACE, ' which refers to a competition between two or more people or teams to see who can finish a course or reach a certain goal first. The Olympic RACE Unit is a unit of measurement used to measure the distance of an Olympic RACE.