Third person singular or plural of cheap (archaic); makes something cheap or obtains something at a low price (rarely used).
Cheap as a verb (archaic usage) plus -s. This represents an older grammatical pattern where adjectives were more readily verbed; the modern verb is 'cheapen.'
The ghost of 'cheaps' shows how English gradually standardized which words could be verbs—we accepted 'cheapen' but rejected 'cheaps,' even though both follow the same logic, showing language is about convention, not pure logic.
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