Think-Pair-Share is a teaching method for which:
The instructor simply poses a question to the class, then
Each student is supposed to work individually on the question for a few seconds or minutes, then
Students pair with other students to discuss their answers in a group, and
Some students share their reasoning/answer with the rest of the class.
Ghosh and Renna (2009) describe how the sharing step can be done with technology such as "clickers". Starting Point provides various examples of how to apply Think-Pair-Share to economics concepts, including determinants of supply and demand and price controls.