We in NC and SC use the term "schwag" to refer to the typical $5/gram street weed in dimebags and such. Then you hear about "midgrade" which is usually stickier and really decent bud. Then there's KB and hydro, which are usually the same price, $20/gram or $60/8th. Basically, I call the cheapest stuff schwag, but that doesn't mean it's shitty.