made or done on a small or reduced budget; costing relatively little money: a low-budget film.


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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Example sentences
When a low-budget found-footage film manages to capture the public's
  imagination, the rewards are enormous.
For the past few years the independent film business has resembled a low-budget
  horror movie.
The reason for the rush is that, for low-budget films, the economics of video
  on demand do make sense.
If the photo-booth shot was a low-budget affair, the second image had
  production values.
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