cheap
Costing very little money.
Cheap means costing very little money. A cheap toy might cost just a few dollars, while a cheap lunch might be a sandwich that costs less than the fancy restaurant across the street. When something is cheap, you don't have to spend much to buy it.
But cheap can also mean poorly made or low quality. A cheap backpack might fall apart after a few weeks, while a more expensive one lasts for years. When someone calls a product cheap in this way, they're saying it wasn't worth buying even at its low price. There's a big difference between something that's inexpensive (costs little but works well) and something that's cheap (costs little because it's not made well).
The word can also describe a person who really dislikes spending money, even when it would be fair or kind to do so. A cheapskate might refuse to pay their fair share when friends split the cost of pizza, or might give a very low-quality present just to avoid spending a few extra dollars.