1.
one (piece, item)
The number one when counting small objects or general items.
Counting patterns
個 is the general counter for small objects: 一個, 二個, 三個… (卵一個, 一個ずつ one at a time, 一個100円 100 yen each).
Register
Sense 2 is casual, mainly among students and young people: 一個上 / 一個下 means one year above or below, usually one school year rather than exact age. In formal speech say 一つ上 or 一歳年上.