Interstate delivery service is owned and operated by katie wyer. the following selected transactions were completed by interstate delivery service during may: select the accounting equation elements (assets, liabilities, owner's equity) affected by the transaction. then, in the "direction" column, select the impact ("increases" or "decreases") on the accounting equation element. lastly, select the specific account within the accounting equation element that is affected. to illustrate, the answer to (1) follows: (1) asset (cash) increases by $18,000; owner's equity (katie wyer, capital) increases by $18,000.

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.