Cheap is a matter of low price.
Cost is a matter of consumption of resources.
Cheap thing doesn't mean low cost because a pair of shoe may be cheap (RM20 only) but may be last 1 week or less (because you just don't want to suffer) but a pair of good quality shoe (RM200) may last for years.
Cost of cheap shoe - RM20 / week
Cost of good quality shoe - RM1.92 / week (assumed use for 2 years only)
There are thousand of example, can list all here. If you have one, feel free to share with us.
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How can cheap things cost more (sound logic or illogical)?
- foods with higher sugar contents sells at cheaper price (cost : health)
- clothes with low quality chemical color may be harmful to body (through skin and poles) (cost : health)
- cheap engine oil (cost : repair engine and higher petrol consumption)