low-cost

[loh-kawst, -kost]
adjective
able to be purchased or acquired at relatively little cost: low-cost life insurance; low-cost housing.

Origin:
1930–35

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Example sentences
Well, it's cheap and readily available, and low-cost ice models could help
  inventors design products more quickly.
The efforts highlight the quest to find low-cost alternatives to safely detect
  underground explosives.
Geo-Games event plans are low-cost, easy to implement, and adaptable to your
  school's resources and needs.
He is also credited with creating a pioneering, low-cost method of preparing
  laboratory smears.
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