Definition: cheap

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Source: WordNet (r) 1.7 

cheap
     adj 1: relatively low in price or charging low prices; "it would
            have been cheap at twice the price"; "inexpensive
            family restaurants" [syn: inexpensive] [ant: expensive]
     2: tastelessly showy; "a flash car"; "a flashy ring"; "garish
        colors"; "a gaudy costume"; "loud sport shirts"; "a
        meretricious yet stylish book"; "tawdry ornaments" [syn: brassy,
         flash, flashy, garish, gaudy, gimcrack, loud,
         meretricious, tacky, tatty, tawdry, trashy]
     3: (informal) of very poor quality [syn: bum, cheesy, chintzy,
         crummy, punk, sleazy, tinny]
     4: embarrassingly stingy [syn: chinchy, chintzy]

Source: Webster's Revised Unabridged Dictionary (1913) 

Cheap \Cheap\, n. [AS. ce['a]p bargain, sale, price; akin to D.
   Koop purchase, G. Kauf, ICel. kaup bargain. Cf. Cheapen,
   Chapman, Chaffer, Cope, v. i.]
   A bargain; a purchase; cheapness. [Obs.]

         The sack that thou hast drunk me would have bought me
         lights as good cheap at the dearest chandler's in
         Europe.                                  --Shak.
Cheap \Cheap\, a. [Abbrev. fr. ``good cheap'': a good purchase
   or bargain; cf. F. bon march['e], [`a] bon march['e]. See
   Cheap, n., Cheapen.]
   1. Having a low price in market; of small cost or price, as
      compared with the usual price or the real value.

            Where there are a great sellers to a few buyers,
            there the thing to be sold will be cheap. --Locke.

   2. Of comparatively small value; common; mean.

            You grow cheap in every subject's eye. --Dryden.

   Dog cheap, very cheap, -- a phrase formed probably by the
      catachrestical transposition of good cheap. [Colloq.]
Cheap \Cheap\, adv.
   Cheaply. --Milton.
Cheap \Cheap\, v. i.
   To buy; to bargain. [Obs.] --Chaucer.