indeed it is possible, very easy actually
import os
os.system("cd [directory]")
and if you want to make it so that you can type commands into your python commandline
import os
while True:
command = raw_input("Enter Command->")
if command.upper() == "Q":
break
try:
os.system(command)
except:
print "invalid command\n"
One thing to note is that if you are just going to make specific calls to the command line to do one thing such as cd directory, you should use the python os module rather than just calling the comman shell.
To perform a cd command from python you ould use the following
import os
os.chdir("C:\\A folder")
This changes the current working directory to C:\Folder. From there you cann call other functions to make directories etc.
Python: os module or type
help("os") in the Python command line
you should also look at os.name and os.path especially,
help("os.name") etc for information on these.
Hope this helps, just be careful if you do allow user input to access the command prompt.
Chris