low-cost
Definition
Adjective: - Inexpensive, affordable: Describing something that requires a small amount of money to buy, use, or operate. It emphasizes good value for a relatively low price.
Usage
The adjective "low-cost" is used directly before a noun to describe it. It is a compound adjective, typically hyphenated. - It is commonly used in contexts like travel, consumer goods, services, and housing to indicate an affordable option. - It is more formal than synonyms like "cheap" and does not carry the same potential negative connotations of poor quality.
Examples
- The airline is known for its low-cost flights across Europe.
- The government program aims to provide low-cost healthcare to all citizens.
- We found a low-cost solution to the software problem.
- They are developing low-cost housing for essential workers.
Advanced Usage
- "Low-cost" as a market segment: The term is often used to define an entire category of products or services, such as the "low-cost carrier" (LCC) sector in aviation.
- Strategic use: In business and economics, "low-cost" describes a strategy focused on minimizing expenses to offer lower prices than competitors (e.g., a or ).
Variants and Related Words
- Low-budget (adj): Having a very limited amount of money available, often used for creative projects like films. (e.g., a indie movie).
- Cost-effective (adj): Providing good value for the amount of money spent, which may not necessarily be the absolute lowest price. (e.g., a marketing campaign).
- Economical (adj): Using no more of something than is necessary; not wasteful, which can lead to lower costs. (e.g., an car).
Synonyms
- Inexpensive: Not costing a lot of money. (Neutral tone).
- Budget: Designed for or suitable to a restricted budget. (e.g., airlines).
- Affordable: Priced reasonably so that people can buy or pay for it.
- Reasonable: Fair and sensible in price; not too expensive.
Antonyms
- Expensive: Costing a lot of money.
- High-cost: Involving a great deal of expense.
- Luxury: Characterized by great expense and sumptuousness.
- Costly: Costing a lot; expensive.
Related Phrases and Compounds
- Low-cost carrier (LCC): An airline that offers low fares but eliminates many traditional passenger services.
- Low-cost housing: Housing that is affordable for people with low to moderate income.
- Low-cost alternative: A cheaper option that serves as a substitute for something more expensive.
Adjective
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that you have the financial means for
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low-cost housing
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