Yes, the Ricoh SP100 is very economical compared to an inkjet printer. It's monochrome printer, so if color is not necessary, Ricoh SP100 is a very good option.
What makes it more economical than other laser printers is that SP100s cartridge is refillable. Ricoh supplies refill pouches which are available at the fraction of cost of a new cartridge. The refill pouch is available for around Rs.500(around USD 8) and claims to give 2000 pages.