Are you a Candidate, the NECO GCE Economics Past Questions 2025 is out for students Preparing for the 2025 NECO GCE Economics examination, Although preparations can be stressful, especially when you do not have reliable study materials. One of the most effective ways to improve your performance is by using standardized practice questions that reflect the structure and style of the real exam.

NECO GCE Economics Past Questions 2025 (Complete Guide + 60 Practice Questions)

This blog post  provides guidance on how to scale through in your exam with the use of NECO GCE Economics Past Questions:

• A human-friendly guide to the NECO GCE Economics exam

• Objective and Essay questions (1–60) generated in real-time

• An easy  steps to tackle past questions and get ready for the main exam.

Let’s guide you through…

Why You Should Use NECO GCE Economics Past Questions

Studying Economics requires understanding—not memorizing. Past questions help you build that understanding.

1. They Reveal the Exam Pattern

Economics questions follow a predictable pattern across topics like demand and supply, inflation, market structures, international trade, and national income.

2. You Understand Question Trends

NECO often repeats concepts from previous years. Practicing similar questions helps you avoid surprises.

3. Helps You Manage Time

Economics is a theory-heavy subject; timed practice helps improve your speed for both objectives and essays.

4. Boosts Confidence

Walking into the exam hall knowing you’ve practiced similar questions gives you an advantage.

Structure of NECO GCE Economics Exam

Students should expect:

• Section A: 50–60 Objective Questions

• Section B: 5–7 Essay Questions (Answer 4 or as instructed)

The questions below are modeled to reflect NECO-style wording, comprehension level, and difficulty.

NECO GCE Economics 2025 – Objective Questions (1–50)

(Generated in real-time for practice purposes)

1. Economics is best defined as the study of how people ______.

2. Opportunity cost refers to ________.

3. A shift to the right in a demand curve means ________.

4. Supply can be defined as ________.

5. Which of the following is NOT a factor of production?

6. Land as a factor of production is considered ________.

7. The law of diminishing returns applies mainly to ________.

8. The market where currencies are traded is called ________.

9. A monopoly market is characterized by ________.

10. Inflation refers to ________.

11. A balance of trade deficit means ________.

12. National income can be measured using ________.

13. The term “tariff” means ________.

14. A Direct tax is ________.

15. A normal good is one whose demand ________.

16. The equilibrium price is determined when ________.

17. The Central Bank regulates the supply of ________.

18. Which of the following is NOT a type of unemployment?

19. The law of supply states that ________.

20. Specialization leads to ________.

21. The GDP of a country excludes ________.

22. A budget surplus occurs when ________.

23. A commercial bank performs all the following except ________.

24. Which of these is a feature of perfect competition?

25. The production possibility curve shows ________.

26. An inferior good is one whose demand ________.

27. Human wants are described as ________.

28. The elasticity of demand measures ________.

29. Devaluation is a deliberate ________.

30. A regressive tax is ________.

31. In international trade, visible exports refer to ________.

32. Sole proprietorship is owned by ________.

33. Public goods are usually provided by ________.

34. Commercial farming is associated with ________.

35. Disposable income means ________.

36. The money market deals with ________.

37. A partnership business is usually formed by ________.

38. A trade union is an association of ________.

39. A barter system is limited because ________.

40. VAT stands for ________.

41. Inflation caused by excess demand is known as ________.

42. Labour mobility means ________.

43. Internal economies of scale occur when ________.

44. External economies of scale come from ________.

45. A development plan is used by the government to ________.

46. The black market exchange rate refers to ________.

47. Insurance works based on the principle of ________.

48. Consumer surplus refers to ________.

49. A mixed economy combines ________.

50. A country is said to be developed when ________

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NECO GCE Economics 2025 – Essay Questions (51–60)

(Useful for long-answer practice)

51. Explain the concept of opportunity cost with relevant examples.

52. Describe the factors that can cause a shift in the demand curve.

53. Discuss the major functions of money in a modern economy.

54. Examine the causes and effects of inflation in a developing nation.

55. Outline the roles of the Central Bank in regulating the financial system.

56. Explain the differences between perfect competition and monopoly.

57. Discuss the problems associated with the barter system.

58. Highlight the advantages and disadvantages of specialization.

59. Explain the components of a country’s balance of payments.

60. Describe how government fiscal policy can be used to control inflation.

How to Use These Questions Effectively

To get the best results:

1. Attempt all objective questions under 45 minutes

This simulates real exam pressure.

2. Write full essay answers

Use diagrams where necessary and practice NECO-standard explanations.

3. Revisit your weak areas

Use your incorrect answers as a study guide.

4. Repeat the questions weekly

Mastery comes from repetition. You can do an Online CBT practice by visiting http://Myschool.ng

Conclusion

The 2025 NECO GCE Economics Past Questions 2025 provided above give you a strong foundation for your exam preparation. These questions reflect real exam patterns and help you develop confidence, speed, and accuracy.

Study consistently, practice wisely, and you will definitely improve your performance.