I'd like to know when we say the something is very economy....we should say the price is very cheap or the price is very low. Also the fare is cheap, is it correct?
Fare does collocate with low too, especially, I think, as an attributive adjective.
I have checked Oxford Collocations Dictionary, they also mentioned price can use "cheap", why? please see below:
Oxford Collocations Dictionary for Students of English, 2nd edition price noun adjective
exorbitant , high , inflated , prohibitive , steep They charge exorbitant ~s for their goods.
The ~ of fuel is prohibitive.
rising , soaring
cheap , low
bargain , budget , discounted , knock-down ( BrE ) , reduced , rock-bottom designer clothes at bargain ~s
affordable , attractive , competitive , decent , fair , reasonable , right We sell quality tools at the right ~.
good I managed to get a good ~ for my old car.
asking , purchase What's the asking ~ for this house?
You need to pay a deposit of 10% of the purchase ~ of the property.
recommended ( esp. BrE ) , suggested ( esp. AmE ) The suggested retail ~ of the DVD is $19.99.
retail , sale , sales , selling
cost ( esp. BrE ) They are selling off summer shoes at cost ~.
© Oxford University Press, 2009
(Not a teacher)
We normally say,
"The price of the computer/car is high/low, but
the computer/car is expensive/cheap."