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