Meaning of “low-cost” in the English Dictionary

business-english dictionary

"low-cost" in Business English

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low-costadjective [ before noun ]

uk /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 energy/electricity

(Definition of “low-cost” from the Cambridge Business English Dictionary © Cambridge University Press)