Cost-effective means giving good value for what it costs. A cost-effective solution.
It is not the same as cheap, which is the confusion the phrase exists to prevent. The most cost-effective option often costs more at the start and less over ten years.
1adjectivecost-effectiveGiving good value for what it costs.
“The cost-effective option was rejected because of the first-year price.”
cost-effective is a quality.