Sarah Jean's Uncle Jed has a dream. He saves his money and lives for the day when he can open his very own barbershop. But it is a long time, and there are many setbacks before the joyful day when Uncle Jed opens his shiny new shop.
What was Uncle Jed's dream?
He longed to open his very own barbershop. He wanted to be an entrepreneur.
Did he provide a good or a service?
He provided a service by cutting people's hair.
How did he plan to achieve his dream?
He planned to save up enough money for the shop through cutting people's hair.
What were the obstacles/setbacks that he faced?
He had to use part of his savings to pay for Jean's operation. He also lost all his savings when there was a bank failure during the Great Depression.
What was Uncle Jed's opportunity cost when he used his savings to pay for Jean's operation?
The opportunity cost of making the choice to pay for Jean's operation was the delay in having his own barbershop.
How did he face these setbacks?
He never gave up. He persisted and continued to cut people's hair until he was finally able to save up enough money to invest in the building and equipment for a barbershop. He had the spirit of entrepreneurship.
What capital resources did Uncle Jed buy with his savings?
He used his savings to buy a barber shop building, barber chairs, decorations for the shops, barber's tools, etc.
Author: Margaret King Mitchell
Illustrator: James Ransome
Reading Level: 3.8
Grade Level: PreK-2
Accelerated Reader Level/Points: .5
Publisher: Simon & Schuster