The difference between Cheap and Low-cost

When used as adjectives, cheap means low and/or reduced in price, whereas low-cost means low in price.

Cheap is also noun with the meaning: trade.

Cheap is also adverb with the meaning: cheaply.

Cheap is also verb with the meaning: to trade.

check bellow for the other definitions of Cheap and Low-cost

Cheap as an adjective:

Low and/or reduced in price.
Cheap as an adjective:

Of poor quality.
Cheap as an adjective:

Of little worth.
Cheap as an adjective (slang, of an action or tactic in a game of skill):

Underhand or unfair.

Examples:

"the cheap trick of hiding deadly lava under pushable blocks"
Cheap as an adjective (informal, chiefly, derogatory):

Stingy; mean; excessively frugal.

Examples:

"Insurance is expensive, but don't be so cheap that you risk losing your home because of a fire."

Cheap as a verb (intransitive, obsolete):

To trade; traffic; bargain; chaffer; ask the price of goods; cheapen goods.
Cheap as a verb (transitive, obsolete):

To bargain for; chaffer for; ask the price of; offer a price for; cheapen.
Cheap as a verb (transitive, obsolete):

To buy; purchase.
Cheap as a verb (transitive, obsolete):

To sell.