cheapo

adj

1. (slang)Inexpensive and of poor quality.

   “They wanted crystal champagne glasses for the party but the caterers provided cheapo plastic cups instead.”

noun

1. (slang)A person who is stingy, a miser.
2. (slang)Something produced and sold for low cost.

   “The better half's Lupo was transformed when the cheap and nasty Nankang ditchfinders came off (and they were well above the legal limit) and mid-price Kumhos went on. The cheapos compromise on grip and can become noisy.”

3. A primitive trap, often set in the hope of swindling a win or draw from a losing position.