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What does cut-rate mean?

Looking for the meaning or definition of the word cut-rate? Here's what it means.

Adjective
  1. Offered for sale or rent at a lower than usual rate
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None of these things guarantee loyalty in the face of cut-rate competition, though.
One factor is that the team's cut-rate cast-off offensive line, which had a fabulous season in 2000, has run out of fairy dust.
Russia's economic collapse has made matters worse, for its cut-rate weapons are flooding the market.
Using that tort settlement, the big brands have hampered tiny cut-rate rivals and raised prices with near impunity.
From there, he hopes to launch an internet-based business, offering services at cut-rate prices to British firms.
I found it on some cut-rate dance compilation borrowed from a friend, and was knocked out like I'd been hit in the gut while playing dodgeball.

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