Low cost refers to something that is inexpensive or affordable, often at a significantly lower price compared to similar products or services. It can also refer to the practice of minimizing expenses in order to keep prices low for consumers. This term is commonly used in the business world to describe companies that offer goods or services at a lower cost than their competitors, without compromising on quality. In general, low cost implies a good value for the price, making it an attractive option for budget-conscious individuals or businesses. However, it is important to note that low cost does not necessarily mean cheap or inferior, as it is possible to find high-quality products or services at a low cost.