It can be compared with error correction that happens after a task has finished.
Example
The learner is telling the teacher about a hobby and says, ‘I am going every weekend'. The teacher immediately elicits or says ‘I go every weekend'.
In the classroom
On-the-spot correction techniques include giving the correct answer, echoing the learner but correcting the language, and using facial expressions and gestures to indicate where the problem was in what the learner said, and therefore encourage learners to correct the mistake themselves.
See also:
https://www.teachingenglish.org.uk/article/delayed-correction
https://www.teachingenglish.org.uk/article/reformulation
Further links:
https://www.teachingenglish.org.uk/article/error-correction-2
https://www.teachingenglish.org.uk/article/monitoring-0
https://www.teachingenglish.org.uk/article/monitoring-speaking
https://www.teachingenglish.org.uk/article/teacher-talk-error-correction