introduces students to the risks and rewards of business ownership with a project-based pedagogy and a foundation in economic concepts. Students are guided through the elements and creation of a business plan, using a step-by-step narrative for selecting an idea for a business, social and ethical responsibilities, start-up options for the new business, operating the business, and expanding and exiting the business. The third edition reflects current business concepts such as trade agreements and trade barriers, the promotional mix, and insurance practices.