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Staples, Aaron J.; Sackett-Taylor, Hillary M.; Forgue, Jason; Brewer, Stephanie B.; Sarnikar, Supriya – Journal of Economic Education, 2020
Students of introductory economics are often able to predict changes in equilibrium price correctly on standardized assessments, but make consistent errors in predicting changes in equilibrium quantity. To examine the reasons for this pattern, the authors collected open-ended explanations written by students and categorized their reasoning using a…
Descriptors: Economics Education, Error Patterns, Logical Thinking, Supply and Demand