50 likely Economics questions for the 2027 NECO examination, written from the official syllabus and recurring past-question patterns, each with the correct answer and a short explanation. The first 6 are free to read — full access (₦2,990 once) unlocks all 50.
1. A Nigerian student uses her savings to buy Economics textbooks instead of a pair of shoes. The opportunity cost of buying the textbooks is the Scarcity, Choice and Opportunity Cost A. total amount of money she has saved B. pair of shoes she has forgone C. value of the textbooks purchased D. cost of all her other school materials Tap an option, or show answer
2. Nigeria is described as operating a mixed economy mainly because Economic Systems A. all productive resources are owned by the government B. market forces determine every economic decision C. both public and private enterprises participate in production D. agriculture and manufacturing contribute equally to national output Tap an option, or show answer
3. A trader sold 10, 14, 18, 22 and 26 bags of rice over five market days. What was the mean daily quantity sold? Basic Tools of Economic Analysis A. 16 bags B. 18 bags C. 20 bags D. 22 bags Tap an option, or show answer
4. Other things being equal, a fall in the price of garri will cause Demand A. an increase in the demand for garri B. a decrease in the demand for garri C. a decrease in the quantity demanded of garri D. an increase in the quantity demanded of garri Tap an option, or show answer
5. Which of the following is most likely to increase the supply of locally produced rice in Nigeria? Supply A. A reduction in the cost of fertilizer B. An increase in transport charges C. A widespread flood on rice farms D. An increase in taxes on rice producers Tap an option, or show answer
6. If the government fixes and enforces a maximum price for a commodity below its equilibrium price, the immediate market effect is likely to be Market Equilibrium and Price Control A. excess supply B. a fall in demand C. excess demand D. an increase in equilibrium price Tap an option, or show answer These are AI predictions for revision, not leaked or official exam questions.