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NECO SSCE Economics 2026 past questions and answers

This 2026 NECO SSCE Economics set has 40 practice questions. Try these 5 free sample questions, tap a question to reveal the answer and explanation. Then practise the whole 2026 set with instant marking.

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Sample NECO SSCE Economics 2026 questions

1. Country A can produce either 4 units of cloth or 2 units of wine with the same resources, while Country B can produce either 6 units of cloth or 6 units of wine. Which pattern of specialization follows comparative advantage?
  1. A specializes in wine and B in cloth
  2. Both specialize in cloth
  3. A specializes in cloth and B in wine
  4. Both specialize in wine

Answer: C. A specializes in cloth and B in wine

A gives up only 0.5 unit of wine per cloth compared with B's 1, while B gives up only 1 unit of cloth per wine compared with A's 2.

2. If the naira depreciates against other currencies and the demand for Nigerian exports and imports is sufficiently price-elastic, what is the likely effect on Nigeria's trade balance after adjustment?
  1. It is likely to improve because exports become cheaper to foreigners and imports dearer to Nigerians
  2. It must worsen because every export becomes more expensive to foreigners
  3. It remains unchanged because exchange rates affect only domestic prices
  4. It improves only if the country stops exporting goods

Answer: A. It is likely to improve because exports become cheaper to foreigners and imports dearer to Nigerians

With sufficiently elastic demand, lower foreign-currency export prices and higher domestic import prices tend to raise export receipts relative to import spending.

3. Which transaction is normally entered as a credit in a country's balance of payments?
  1. A resident pays for imported machinery
  2. A government repays a foreign loan
  3. A resident purchases shares in a foreign company
  4. A foreign buyer pays for goods exported from the country

Answer: D. A foreign buyer pays for goods exported from the country

An export brings a payment into the country and is recorded as a credit in the balance of payments.

4. A country's export price index is 150 and its import price index is 120. What is its terms-of-trade index?
  1. 80
  2. 125
  3. 270
  4. 30

Answer: B. 125

The terms-of-trade index is (export price index / import price index) x 100, which is (150 / 120) x 100 = 125.

5. Which objective is most closely associated with the Economic Community of West African States?
  1. Replacing all national governments with one administration
  2. Fixing the world price of crude oil
  3. Promoting economic cooperation and integration among West African states
  4. Restricting trade between member states

Answer: C. Promoting economic cooperation and integration among West African states

ECOWAS seeks to promote cooperation and economic integration among its West African member states.

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