Match the terms with their corresponding descriptions:

1. Business Fluctuations
2. Consumption
3. Economic Growth
4. Economies of Scale
5. Free Rider
6. Government Purchases
7. Human Capital
8. Institutions
9. Investment
10. Physical Capital
11. Price Ceiling
12. Price Floor
13. Recession
14. Rent Control
15. Speculation
16. Technological Knowledge

A. The city of Phoenix informed me that the maximum rate I am allowed to lease my condo at is $750 a month.
B. In 2008, oil prices were increasing, my husband and other recent graduates couldn't find a job, as well as the overall economy was hurting.
C. Sam believes that there is a zombie apocalypse coming. He is investing in rice and other storable food to sell and trade when times are rough.
D. Everyone needs high-speed internet so the price is set to be no more than $25 a month.
E. John took credit on the group project, even though he didn't contribute.
F. It is common knowledge farms can produce more crops when the proper fertilizer is applied.
G. As oil prices increase, we will most likely see a downward trend in GDP; when oil prices decrease, we typically see an increase in GDP.
H. Sorting people's recycled goods is gross work, so they can't be paid less than $20 an hour.
I. Our 3 branches of government
J. The benefit I can receive from attending a teaching conference.
K. The salaries at Redstone Arsenal
L. In order to run a metal casting company, you need high-temperature ovens, computers to create designs, and molds for holding the designs.
M. The US economy grew by 3.6% from 2018 to 2019.
N. I enjoy spending money on nail services and new clothes for my boys.
O. Jamie purchased a new cricket machine for designing t-shirts to sell.
P. Riding the train is a great method of transportation in a large city.

This detailed answer matches various real-life scenarios with economic concepts like price ceiling, recession, and investment, demonstrating how these principles manifest in practical settings such as rent control, economic downturns, and individual purchasing decisions.

Explanation:

Matching these scenarios to their respective economic concepts highlights the practical application of various terms related to the field of economics and business. For instance, a price ceiling is vividly demonstrated through rent control measures where a maximum allowable rate for leasing a property is set, such as the city of Phoenix limiting the lease rate of a condo to $750 a month.

This practice aims to keep housing affordable but can lead to a shortage of rental units as the supply fails to meet demand. Similarly, the drastic outcomes of economic recessions are portrayed through the 2008 economic downturn, marked by rising oil prices and significant job losses, showcasing the interconnectedness of economic indicators like oil prices and GDP growth with employment and overall economic well-being.

The concept of investment is also illustrated through individual actions, such as purchasing storable food in anticipation of future crises, reflecting personal strategies to hedge against potential economic instability. Physical capital, essential for production, is exemplified by the necessary equipment for running a metal casting company, underlying the importance of tangible assets in business operations.