Teachers fail to apply the theory to practical everyday examples relevant to teenagers. For example, they may teach production possibilities, but never show students how this model has application to choices they make as teenagers or in the future as adults. Young children learn early that they cannot have everything they want. Unfortunately, they do not always understand why this is the case or why each choice involves a cost. When asked about the dilemma of making choices, they respond that it is the fault of someone else, that this individual is just prohibiting them from getting their desired choice or that when they become adults, choices will no longer be a problem.
Children live in an economic world and bring economic knowledge into the classroom.
Some of this is correct, providing an opportunity to build upon student understanding. Other information is incorrect, based on misunderstandings. This requires correction and reteaching. In a review of the literature on how children reason about economics, Schug and Walstad observed that teachers of economics need to understand and correct the confusion about economic concepts that young people bring into the classroom. 6 Schug states that failure to address children's confusion about economics will result in economic misunderstandings that will likely persist even if economics is taught in the elementary classroom.