cheap Look up cheap at Dictionary.com
O.E. ceap (n.) "a purchase," from ceapian (v.) "trade," probably early Gmc. borrowing from L. caupo (gen. cauponis) "petty tradesman, huckster." Adj. sense of "that may be bought at small cost" first attested 1509, from god chep "favorable bargain," translation of Fr. a bon marche, a sense represented in O.E. by undeor. Sense of "lightly esteemed, common" is from 1591. Expression on the cheap is first attested 1888.