low-cost

/ˌləʊˈkɒst/

/-ˈkɑːst/ adjective [before noun] (also lower-cost)

Definition

› 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 adjective from the Cambridge Business English Dictionary © Cambridge University Press)