The difference between Cheap and Precious

When used as nouns, cheap means trade, whereas precious means someone (or something) who is loved.

When used as adverbs, cheap means cheaply, whereas precious means very.

When used as adjectives, cheap means low and/or reduced in price, whereas precious means of high value or worth.

Cheap is also verb with the meaning: to trade.

check bellow for the other definitions of Cheap and Precious

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.

Precious as an adjective:

Of high value or worth.

Examples:

"The crown had many precious gemstones. This building work needs site access, and tell the city council that I don't care about a few lorry tyre ruts across their precious grass verge."
Precious as an adjective:

Regarded with love or tenderness.

Examples:

"My precious daughter is to marry."
Precious as an adjective (pejorative):

Treated with too much reverence.

Examples:

"He spent hours painting the eyes of the portrait, which his fellow artists regarded as a bit precious."
Precious as an adjective (pejorative):

Contrived to be cute or charming.

Precious as an adverb:

Very;

Examples:

"There is precious little we can do."

"precious few pictures of him exist"