Kojo lives with his mother in a small town in Ghana. One day day he purchases one brown hen with thesavings he and his mother earned from selling firewood in the market. He begins to sell eggs in the market and watches his business grow. Kojo earns enough to pay for school and eventually finishes college. He then convinces a bank to give him a much larger loan to start an egg farm, which grows to be the biggest in West Africa. Based on a true story, One Hen is an inspiring story about the start of one small business and how it ended up helping hundreds of people improve their lives. .
How did Kojo and his mother earn money (income) to buy the hen?
They had to work. They gathered and sold firewood in the market. Kojo was able to save some moeny to purchase the hen.
Kojo could have purchased other consumer goods, such as food, clothers, or toys. Why did Kojo decide to purchase (invest in) a hen?
He wanted to use the hen to make more money in the future. In this situation, the hen was a capital good - a good you purchase to produce other goods or services.
What did Kojo decide to do with his savings?
He purchased a uniform and paid the fees to go to school. In other words, he was investing in his education.
What was the opportunity cost of this decision?
The other things he would have purchased with the money he used for school.
Kojo needed more money to start a larger poultry farm. Why wasn’t Kojo able to get a bank loan in Kumsai, a nearby town?
The banker thought it was too risky – Kojo might not pay him back. He didn’t want to lend to a young man from a poor family. Banks always take on risk when they loan mone
Kojo was an entrepreneur. What is an entrepreneur?
Someone who takes the risk to start or expand a business.
Kojo earned a profit from his successful poultry business. What is profit?
Profit is the money an entrepreneur earns by running a successful business. Kojo’s profit was the money left over after subtracting all the business costs (buying hens, paying workers, food for the hens, etc.) from the revenues he earned selling the eggs
A successful business helps many people. Who else was helped by Kojo’s poultry business?
People who got jobs and their families were helped greatly. Workers earned higher wages, giving them nicer houses; better health care; special clothing; and money for education. Some of the workers were also able to save and start their own businesses, such as a grain mill. The government was now able to raise more taxes for roads, schools, and health clinics
Author: Katie Smith Milway
Illustrator: Eugenie Fernandes
Grade Level: 3-7
Accelerated Reader Level/Points: 0.05
Lexile Measure: 810L
Publisher: Kids Can Press