Read Now: NECO 2025 Economics: Most Likely Questions - AllCBTs
Practice Exam Questions, Buy/SELL for FREE ->>
Download App!

NECO 2025 Economics: Most Likely Questions

past questions allcbts, Understanding Waves and Properties in Physics, Matrices and Determinants, NECO 2025 Economics Likely Questions and Answers, 60 Most Likely SAT Writing and Language Questions.60 Most Likely SAT Writing and Language Questions, NECO Chemistry Questions and Answers for 2025, JUPEB Mathematics Questions and Answers. IJMB Mathematics Past Questions for 2025, NECO Government 2025 Likely Questions and Answers, Top IJMB Chemistry Questions with Answers. JUPEB Mathematics 2025: Exam Questions. NECO 2025 Literature in English Questions. IJMB 2025 English: Top Likely Essay Questions, NECO 2025 Economics: Most Likely Questions, NECO Physics 2025: Questions with Answers, NECO Chemistry 2025 Practical: Top Questions, Introduction to Government: Meaning, &Scope. Introduction to Mechanics in Physics. National Common Entrance Mathematics 2025, NABTEB Mathematics May/June Exam Prep, NECO Mathematics 2025 Past Questions. Introduction to Atoms in Chemistry NECO/WAEC 2025, JUPEB Biology 2020 Top Multiple-Choice Questions. National Common Entrance 2025: Likely Questions, Introduction to Algebra: Expressions, and Equations, GAOKAO English 2025: Top 40 Likely Questions, GAOKAO 2025 Biology Past Questions for Exams, WAEC Chemistry Questions for WAEC, NECO, JAMB, WAEC Physics Practical 2025 (Alternative B), WAEC Mathematics 2025: Top Likely Questions, Top 50 WAEC 2025 Oral English (Paper 3) Questions, WAEC Chemistry Practical 2025, WAEC English Language Paper 3 (Oral)

Hello students! Welcome to AllCBTs Economics class.
In this session, we’ll be exploring top NECO Economics questions likely to appear in your 2025 exam. These questions are carefully selected to help you sharpen your exam technique and understand core economic principles in a clear and student-friendly way.

Get your pen and notebook ready. Let’s begin.

You can watch the full class in the video below:



Question 1: Revenue Less Than Expenditure – What Type of Budget?

Question:
If a government in a fiscal year has its revenue receipts less than expenditure, what type of budget is this?

Options:
A. Balanced Budget
B. Deficit Budget
C. Favorable Budget
D. Surplus Budget
E. Unfavorable Budget

Correct Answer: B. Deficit Budget

Explanation:

  • A balanced budget occurs when revenue = expenditure
  • A deficit budget means revenue < expenditure
  • A surplus budget is when revenue > expenditure
  • “Favorable” and “unfavorable” are vague and not standard budget terms

So, when the government spends more than it earns, it’s a deficit budget.


Question 2: Cultivating Land and Rearing Animals

Question:
What term best describes the act of cultivating land and rearing animals for human use?

Options:
A. Agriculture
B. Monoculture
C. Forestry
D. Aquascience
E. Horticulture

Correct Answer: A. Agriculture

Explanation:

  • Agriculture is the broad field that includes:
    • Monoculture (growing one crop)
    • Forestry (tree and forest management)
    • Aquascience (aquatic systems)
    • Horticulture (flowers and gardens)

So, the most comprehensive and correct term is agriculture.


Question 3: Private Control of Productive Resources

Question:
Which economic system allows individuals to control the means of production?

Options:
A. Capitalism
B. Communism
C. Credomism
D. Socialism
E. Welfarism

Correct Answer: A. Capitalism

Explanation:

  • Capitalism is where private individuals own and control production
  • Socialism and communism emphasize government control
  • Welfarism and credomism are either derivative or theoretical systems

So, the economic system based on individual ownership is capitalism.


Question 4: Petroleum’s Contribution to Nigeria’s Economy

Question:
Which of the following is the most prominent contribution of petroleum to Nigeria’s economy?

Options:
A. Employment Generation
B. Fuel Provision
C. Infrastructural Development
D. Revenue Generation
E. Technical Know-How

Correct Answer: D. Revenue Generation

Explanation:
Although petroleum contributes to employment, infrastructure, and fuel supply, its most prominent role is in revenue generation. It remains the mainstay of the Nigerian economy, making up a significant portion of government income.

Watch more educational videos and past questions: https://youtube.com/@allcbts



Recap and Key Tips for NECO Economics 2025

  • Understand common budget types: deficit, surplus, and balanced
  • Know the difference between economic systems like capitalism and socialism
  • Be able to classify economic activities like agriculture, forestry, etc.
  • Keep in mind current affairs, especially Nigeria’s dependency on petroleum

Related Videos:



Top SEO Keywords for Discoverability

#NECO2025, #EconomicsNECO, #NECOQuestionsAndAnswers, #NECOEconomicsSolved, #DeficitBudget, #PetroleumInNigeria, #AgricultureDefinition, #AllCBTs, #NECOPrep, #CapitalismVsSocialism, #PassNECO2025

Leave a Reply

Your email address will not be published. Required fields are marked *

Comment

Name

Home Shop Cart 0 Wishlist Account
Shopping Cart (0)

No products in the cart. No products in the cart.