associations of producers who control production and trade of goods in Europe during the 17th century known as
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Trade guilds
Explanation: association of producer who control production and trade during 17th century in Europe
Answered by
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Trade guilds were the associations which were controlling the European trade in 17th century
Explanation:
- Guilds are the association of producers who control trade and protect the professional interest of the traders, craftsmen and small merchants.
- It is an important association which marked its significance in the economy of Europe.
- Guilds performed an important function in the local economy. These established monopolistic trade practices.
- But the prices were stable for their goods and they also had a typical control over the city and local governments in order to achieve the economic objectives.
Learn more about European Trade:
What is meant by trade? what is difference between international and local trade..
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