Webster's Revised Unabridged Dictionary · 1913

Cheap

Cheap (chēp) , noun

[Anglo-Saxon ceáp bargain, sale, price; akin to Dutch koop purchase, German kauf, Icelandic kaup bargain. Compare Cheapen, Chapman, Chaffer, Cope, v. i.]

A bargain; a purchase; cheapness. [Obsolete]
The sack that thou hast drunk me would have bought me lights as good cheap at the dearest chandler's in Europe. — Shakespeare

Cheap , adjective

[Abbrev. from “good cheap”: a good purchase or bargain; compare French bon marché, à bon marché. 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.
good cheap
Where there are a great sellers to a few buyers, there the thing to be sold will be cheap. — Locke
2.
Of comparatively small value; common; mean.
You grow cheap in every subject's eye. — Dryden
Collocations (1)
Dog cheap , very cheap, -- a phrase formed probably by the catachrestical transposition of good cheap. [Colloq.]<-- = dirt cheap? -->

Cheap , adverb

Cheaply. — Milton

Cheap , intransitive verb

To buy; to bargain. [Obsolete] — Chaucer