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Ikiodiete George
- 3 Min Read
Neco Economics Exam (2025/2026): Full List Of Most Repeated Topics & Past Questions
Economics is one of the most popular subjects in the NECO senior secondary school exam. With topics ranging from production to money and banking, understanding the fundamentals and knowing what NECO often repeats can help you pass with flying colors.
This blog post provides the most repeated topics in NECO Economics, sample past questions, key terms, and smart tips to help you study more effectively for 2025/2026.
NECO Economics Exam Format
| Paper | Type | Details |
|---|---|---|
| Paper I | Objective (OBJ) | 50 multiple-choice questions |
| Paper II | Essay (Theory) | 6 questions – answer only 4 |
Most Repeated NECO Economics Topics (2025/2026)
| Topic Area | Details Covered |
|---|---|
| Principles of Demand & Supply | Law of demand, supply curve, factors affecting demand/supply |
| Production | Types, factors of production, scale of production |
| Population | Theory, census, population distribution |
| National Income | GNP, GDP, NNP, income measurement |
| Money & Banking | Functions of money, commercial & central banks |
| Public Finance | Government revenue, expenditure, budget types |
| Market Structure | Monopoly, perfect competition, oligopoly |
| Inflation & Unemployment | Causes, effects, control measures |
| International Trade | Exports, imports, balance of trade/payment |
| Agricultural Economics | Roles, problems, solutions, types of farming |
| Business Organizations | Sole proprietorship, partnerships, limited liability companies |
| Economic Development & Planning | Differences between growth and development, plans and policies |
Sample NECO Economics Objective Questions
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Which of the following best defines demand?
A. Desire to buy goods
B. Willingness to buy goods
C. Ability and willingness to buy goods
D. Quantity of goods in the market
✅ Answer: C -
A budget surplus means...
A. Revenue equals expenditure
B. Expenditure exceeds revenue
C. Revenue exceeds expenditure
D. No revenue was made
✅ Answer: C -
Which is a function of commercial banks?
A. Printing money
B. Issuing currency
C. Accepting deposits
D. Controlling inflation
✅ Answer: C
Sample NECO Economics Essay Questions
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Define demand and explain five factors that affect it.
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List and explain four types of unemployment.
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Discuss the problems facing agricultural production in Nigeria.
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Explain any four functions of money.
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Highlight five differences between direct and indirect taxes.
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What are the major sources of government revenue?
Frequently Repeated Topics by Year
| Year | Most Frequently Asked Topics |
|---|---|
| 2024 | Demand & Supply, Population, Inflation |
| 2023 | Money & Banking, Production, Market structures |
| 2022 | Agricultural economics, Unemployment, National Income |
| 2021 | Business Org., Public Finance, International Trade |
Key Economics Terms You Should Know
| Term | Definition |
|---|---|
| Inflation | A persistent rise in the general price level of goods and services in an economy |
| Opportunity Cost | The cost of the next best alternative forgone |
| Monopoly | A market structure where only one seller controls the market |
| Gross Domestic Product (GDP) | Total value of goods and services produced within a country over a period |
| Balance of Payment | A record of all monetary transactions between a country and the rest of the world |
Tips to Pass NECO Economics with A1
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Practice past NECO questions regularly
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Draw clear demand and supply curves with proper labeling
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Focus on current economic issues and relate them to topics
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Master definitions and diagrams (very important in theory)
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Use flashcards for formulas and key economic terms
Frequently Asked Questions (FAQs)
Q: Does NECO repeat Economics questions?
Yes! NECO regularly repeats questions on demand/supply, inflation, money, and agriculture.
Q: Is drawing graphs important?
Yes. Diagrams like demand/supply curves, cost curves, and market structure charts help boost your theory score.
Q: How many questions should I answer in the essay section?
You are required to answer only 4 out of 6 essay questions.
Q: Are real-life examples necessary in answers?
Yes. They show practical understanding and can earn you bonus marks.
Final Thoughts
Economics is a subject you can easily score high in if you understand the concepts and study past questions. Use this guide to focus on what matters most—repeated topics, key definitions, and smart answering techniques. With the right preparation, an A1 is within your reach.
“Economics is not just theory—it’s how the world works. Learn it smartly, and you’ll pass brilliantly.”
