How urban crafts and trade guilds controlled the business?
(a) they controlled production
(b) they regulated prices
(c) restriction for new people to set up business
(d) all of these
Answers
Answer:
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Explanation:
A guild /ɡɪld/ is an association of artisans and merchants who oversee the practice of their craft/trade in a particular area. The earliest types of guild formed as confraternities of tradesmen, normally operating in a single city and covering a single trade. They were organized in a manner something between a professional association, a trade union, a cartel, and a secret society. They sometimes depended on grants of letters patent from a monarch or other ruler to enforce the flow of trade to their self-employed members, and to retain ownership of tools and the supply of materials, but were generally regulated by the city government. A lasting legacy of traditional guilds are the guildhalls constructed and used as guild meeting-places. Guild members found guilty of cheating on the public would be fined or banned from the guild.