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English definition of “low-cost”

low-cost

adjective [before noun]
 
 
/ˌləʊˈkɒst/ US   /-ˈkɑːst/ (also lower-cost)
COMMERCE, FINANCE cheap, or not costing as much as other things of the same type: As new low-cost competitors from Asia and eastern Europe have entered the global marketplace, Britain's manufacturers have been forced to move upmarket. Around 60% of the companies surveyed had some of their IT work done in low-cost countries.low-cost airlines/carriers/flights Another low-cost airline went bust after expanding too fast. There is pressure on capital cities to provide low-cost housing for its nurses and teachers. low-cost credit cards/mortgages/loans low-cost energy/electricity low-cost labour/manufacturing/production
(Definition of low-cost from the Cambridge Business English Dictionary © Cambridge University Press)
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