Question

Analyse the role of trade guilds under proto industrialisation

Answer 1

Dear Student

1.Guilds were powerful associations of producers that trained craftspeople, maintained control over production, regulated competition and prices, and restricted the entry of new people into the trade.
2. They had been granted the monopoly right to produce and trade in specific products by the rulers.
3. It was difficult for new merchants to set up business in towns.

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