adj. 1. offering goods or services at less than standard price or rate; as, cut-rate store.
Syn. -- cut-price(prenominal). [ WordNet 1.5 ]

2. costing less than standard price.
Syn. -- bargain-priced, cut-price, dirt-cheap. [ WordNet 1.5 ]

n. a price below the standard price.
Syn. -- bargain rate, cheapness, cut rate, cut price. [ WordNet 1.5 ]