The Collaborative International Dictionary of English v.0.48:

Cheap \Cheap\ (ch[=e]p), n. [AS. ce['a]p bargain, sale, price;
   akin to D. koop purchase, G. kauf, Icel. kaup bargain. Cf.
   Cheapen, Chapman, Chaffer, Cope, v. i.]
   A bargain; a purchase; cheapness. [Obs.]
   [1913 Webster]

         The sack that thou hast drunk me would have bought me
         lights as good cheap at the dearest chandler's in
         Europe.                                  --Shak.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Cheap \Cheap\, a. [Abbrev. fr. "good cheap": a good purchase or
   bargain; cf. F. bon march['e], [`a] bon march['e]. See
   Cheap, n., Cheapen.]
   1. Having a low price in market; of small cost or price, as
      compared with the usual price or the real value.
      [1913 Webster]

            Where there are a great sellers to a few buyers,
            there the thing to be sold will be cheap. --Locke.
      [1913 Webster]

   2. Of comparatively small value; common; mean.
      [1913 Webster]

            You grow cheap in every subject's eye. --Dryden.
      [1913 Webster]

   Dog cheap, very cheap, -- a phrase formed probably by the
      catachrestical transposition of good cheap. [Colloq.]
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Cheap \Cheap\, adv.
   Cheaply. --Milton.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Cheap \Cheap\, v. i.
   To buy; to bargain. [Obs.] --Chaucer.
   [1913 Webster]

WordNet (r) 3.0 (2006):

cheap
    adj 1: relatively low in price or charging low prices; "it would
           have been cheap at twice the price"; "inexpensive family
           restaurants" [syn: cheap, inexpensive] [ant:
           expensive]
    2: tastelessly showy; "a flash car"; "a flashy ring"; "garish
       colors"; "a gaudy costume"; "loud sport shirts"; "a
       meretricious yet stylish book"; "tawdry ornaments" [syn:
       brassy, cheap, flash, flashy, garish, gaudy,
       gimcrack, loud, meretricious, tacky, tatty,
       tawdry, trashy]
    3: of very poor quality; flimsy [syn: bum, cheap, cheesy,
       chintzy, crummy, punk, sleazy, tinny]
    4: embarrassingly stingy [syn: cheap, chinchy, chintzy]

Moby Thesaurus II by Grady Ward, 1.0:

155 Moby Thesaurus words for "cheap":
   Mickey Mouse, NG, at cost, avaricious, bad, base, beggarly,
   beneath contempt, beneath one, brummagem, budget, cheapjack,
   cheaply, cheesy, chintzy, close, closefisted, coarse, common,
   contemptible, crummy, debasing, degrading, demeaning, deplorable,
   despicable, disgraceful, easily, easy, economic, economical,
   economy, fake, flashy, for a song, fourth-class, frugal, garish,
   gaudy, gimcracky, good-for-naught, good-for-nothing, gutter,
   hardfisted, humiliating, humiliative, illiberal, inexpensive,
   inexpensively, inferior, infra dig, infra indignitatem, irregular,
   junk, junky, lousy, low, low-class, low-grade, low-priced,
   low-quality, low-test, manageable, mean, measly, meretricious,
   miserable, miserly, moderate, modest, near, niggardly, no-account,
   no-good, nominal, not worth having, not worth mentioning,
   not worthwhile, nugacious, nugatory, on the cheap, opprobrious,
   ornery, outrageous, paltry, pathetic, penny-pinching, penurious,
   petty, phony, pinchfisted, pinching, pitiable, pitiful, poor,
   popular, punk, reasonable, reasonably, reduced, rotten, rubbishy,
   sad, save-all, scandalous, scrubby, scruffy, scummy, scurvy,
   scuzzy, second-best, second-class, second-rate, seedy, sensible,
   shabby, sham, shameful, shocking, shoddy, sleazy, sorry, stingy,
   tacky, tatty, tawdry, terrible, third-class, third-rate, tight,
   tight-fisted, tightfisted, tinny, token, too bad, trashy, trifling,
   trivial, trumpery, two-bit, two-for-a-cent, two-for-a-penny,
   twopenny, twopenny-halfpenny, unbecoming, unexpensive, ungenerous,
   unworthy of one, valueless, vile, within means, worth the money,
   worthless, wretched, wrong