Economics is a core subject for students in the commercial and art streams writing the Senior Secondary Certificate Examination (SSCE) under NECO. To help you ace your NECO 2025/2026 Economics exam, we've compiled a comprehensive list of highly repeated topics and actual past questions, along with proven study tips and frequently asked questions (FAQs).
Why You Should Focus on Repeated Topics
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NECO repeats questions regularly with slight changes
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Improves your confidence and preparation speed
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Saves study time by focusing on high-yield areas
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Increases your chances of scoring A1 or B2
Full List of Highly Repeated Topics in NECO Economics
Below are the top topics that are frequently asked in NECO Economics exams:
1. Basic Economic Problems of Society
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Scarcity, choice, and opportunity cost
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Scale of preference and wants
2. Theory of Demand and Supply
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Law of demand and supply
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Elasticity (price, income, cross)
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Determinants of demand/supply
3. Market Structures
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Perfect competition
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Monopoly
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Oligopoly
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Monopolistic competition
4. Factors of Production
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Land, Labour, Capital, and Entrepreneurship
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Rewards and characteristics of each factor
5. Money and Financial Institutions
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Characteristics and functions of money
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Central Bank and Commercial Banks
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Functions of financial institutions
6. Public Finance
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Government revenue and expenditure
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Budget and taxation
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Fiscal policy
7. National Income
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Concepts: GDP, GNP, NNP
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Methods of measurement
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Uses and limitations
8. Population and Labour Market
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Population census
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Factors affecting population size
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Labour force and employment
9. Agriculture in Nigeria
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Types of farming
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Roles and challenges of agriculture
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Government efforts to boost agriculture
10. Industry and Industrialization
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Types of industries (primary, secondary, tertiary)
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Factors affecting industrial location
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Industrial development in Nigeria
11. International Trade and Balance of Payment
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Import, export, trade terms
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Balance of trade/payment
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Exchange rates
12. Economic Development and Planning
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Characteristics of underdeveloped countries
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Economic growth vs development
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Nigeria’s development plans
13. Inflation and Unemployment
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Causes and effects
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Types of inflation
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Measures to control inflation/unemployment
14. Consumer Protection and Rights
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Importance of consumer education
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Consumer rights and responsibilities
Past NECO Economics Questions (Sample)
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What is the basic economic problem of every society?
A. Production
B. Scarcity
C. Choice
D. Exchange
Answer: B -
Which of the following best describes the law of demand?
A. Price increases, demand increases
B. Price falls, demand falls
C. Price rises, demand falls
D. Quantity supplied equals quantity demanded
Answer: C -
Which type of industry is involved in changing raw materials into finished goods?
A. Primary
B. Secondary
C. Tertiary
D. Quaternary
Answer: B -
The reward for capital as a factor of production is called?
A. Rent
B. Wage
C. Profit
D. Interest
Answer: D -
Which of the following is a function of the Central Bank?
A. Accepts deposits from customers
B. Issues currency
C. Provides overdraft
D. Sells shares to the public
Answer: B
Top Study Tips to Pass NECO Economics 2025
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Study past questions from the last 10 years
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Understand key terms and definitions (not cram)
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Create summary notes and flashcards
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Use NECO-approved Economics textbooks
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Practice drawing and interpreting graphs
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Solve at least one past paper weekly
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Join a study group or attend revision classes
FAQs About NECO Economics Exam 2025/2026
Q1: What is the structure of the NECO Economics exam?
There are two papers:
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Paper I (Objective): 50 multiple-choice questions
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Paper II (Theory): Answer 5 out of 9 questions (usually essay-style and includes graphs/charts)
Q2: Are graphs and diagrams important in the exam?
Yes! Many theory questions require accurate graphs and explanations. Practice plotting supply/demand curves, population pyramids, etc.
Q3: How many questions should I answer in the theory paper?
You are required to answer 5 questions. Always attempt the ones you’re confident in first.
Q4: Is Economics difficult in NECO?
Not if you study smartly using past questions, repeated topics, and recommended textbooks. It’s all about consistency and practice.
Q5: What are the most repeated questions in NECO Economics?
Topics on demand & supply, factors of production, money, population, and national income appear almost every year.
Conclusion
Preparing for NECO Economics 2025/2026 doesn’t have to be overwhelming. By focusing on these highly repeated topics, practicing past questions, and understanding exam trends, you can significantly improve your chances of success. Start early, revise smartly, and walk confidently into your exam hall.
