problems faced by traders in 19th century Europe
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that trained craftspeople and maintained control over production. (ii) They regulated competition and prices and restricted the entry of new people into the trade. (iii) Rulers granted different guilds monopoly right to produce and trade in specific products.
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(i) The urban crafts and trade guilds were powerful. These were associations of producers
that trained craftspeople and maintained control over production.
(ii) They regulated competition and prices and restricted the entry of new people into the trade.
(iii) Rulers granted different guilds monopoly right to produce and trade in specific products.
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