Question

problem faced by european merchant set up in towns before the industrial revolution

Answer 1

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(i) The main obstacle for the merchants in towns were the powerful merchants and crafts guilds. These guilds were association of producers who trained the crafts people, maintained control over production, regulated competition and prices and restricted the entry of new people into the trade.

(ii) Rulers granted monopoly right to production and trade in specific products only to the guilds. It was therefore difficult for new merchants to set up industries in towns.