meaning of modest

[Kerbeth]

English Language Proficiency Tests, Advanced Level

ESL/EFL Test #294 "Economics Questions test (2)", question 8

In a ......... economy, individuals and businesses own and make most of the decisions about resources. In this type of economy, the people own and control most of the production processes.

(a) modest
(b) market
(c) command

English Language Proficiency Tests, Advanced Level

ESL/EFL Test #294 "Economics Questions test (2)", answer 8

In a market economy, individuals and businesses own and make most of the decisions about resources. In this type of economy, the people own and control most of the production processes.

Correct answer: (b) market
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what is modest?

Kerbeth

[Conchita]

If you are modest, you don't talk about how clever/strong/handsome, etc., you are. Modest is the opposite of boasting or boastful.

Modest also has the sense of 'not demanding/not excessive' -- you can make a modest proposal or have a modest income, for instance. A modest flat or car, to give a further example, is one that doesn't look expensive.