Question

Which of the below given statements was true about the guild system?

• A. The skilled craftsmen had ownership of the goods they produced.
• B. The craftsmen had their own organisations called guilds, which fixed the rates of the products manufactured by the craftsmen.
• C. The capitalists and craftsmen together formed guilds to discuss production.
• D. The traders had complete control over goods produced by anyone and they alone set rates.

Answer 1

The correct option is D The traders had complete control over goods produced by anyone and they alone set rates.

Under the guild system, the skilled craftsmen had ownership of the goods they produced. In the Machine Age, the guild system was replaced by a system in which workers worked for wages and they did not own the goods they produced or helped manufacture.