Ever think about turning a hobby into a commercial venture? Or working full time as an independent contractor? Or simply wondering if textbook economic principles are relevant in real life? Through a sequence of short cases, this book shows you how to use the basic tools of economic and financial analysis to answer common business questions such as: whether or not a new business venture makes economic sense for you; when to hire extra help; what variety of products and services to offer; what production process to use and what pricing strategies to follow. Includes glossary, index, and business templates that can be adapted for any commercial venture. Appropriate for both personal and classroom use.