Can anyone help me on what's the more convenient, as well as cheaper way to get from Nagoya to Narita Airport?
Well if you wanted the absolutely cheapest by train it would be to take local trains for Y7140, but I would not recommend it. To see how long it takes go to Hyperdia and deselect every option except local train.
Just buy point-to-point tickets as you need them. Depending on your final itinerary, a JR pass might be a better value.
Standard train tickets, not express surcharge tickets, allow you to get off, stay a night or so, and carry on. You cannot, as far as I know, do that with express surcharge tickets. In other words, if you travel from X to Z with a stop at Y, you will be able to get off and see Y with the standard fare ticket, but you will need two separate express surcharges from Z to Y and Y to Z rather than just the one.
You cannot use a ticket from X to Z to go back to X again.
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