Question

Describe any 5 major problems faced by new european merchants in setting of their industries in town before the industrial revolution.

Answer 1

(i) Due to the expansion of world trade, the merchants wanted to expand their production. But hade and craft guilds were very powerful. (ii) They could create money problems for the merchants in their town (iii) Rulers had granted different guilds and the monopoly rights to produce and trade in specific products. So merchants were handicapped in towns. (iv) Guilds regulated competition and prices. (v) In the countryside, peasants and artisans were available for work.

Answer 2

5 major problems faced by new European merchants

(i) During the 17th and 18th centuries, global trade grew extremely quickly. The rise in demand was also brought on by the purchase of colonies. The town's farmers were unable to produce the necessary amount.

(ii) associations of producers who restricted newcomers' access to the market and upheld control over prices and production.

(iii) Different monopoly rights to produce and trade in particular products were granted by the rulers. Therefore, it was challenging for new merchants to establish themselves in towns.

(iv) The countryside's open fields were disappearing, and the commons were being enclosed. Cottagers and low-income peasants who previously relied on common lands lost their jobs. Therefore, peasant households eagerly concurred when merchants offered advances on goods.

(v) Creation of Financial problems for the merchants of towns.

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