It's better to be under it than below it! (3)

I believe the answer is:

par

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'it' is the definition.
The definition suggests a singular noun which matches the answer.

I cannot understand how the rest of the clue works.

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(Other definitions for par that I've seen before include "Usual score at golf" , "Rating of strokes required for hole (golf)" , "Expected number of strokes for hole (golf)" , "Average or normal score" , "A number of golfing" .)

I've seen this clue in the Evening Standard.

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