what are the roles of trade guilds ?
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Guilds were powerful associations of producers that trained craftspeople, maintained control over production, regulated competition and prices, and restricted the entry of new people into the trade. They had been granted the monopoly right to produce and trade in specific products by the rulers.
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The following were the roles of Trade guilds:
(i) Trade guilds were associations of producers that trained craft people, maintained control over production, regulated competition and prices
(ii)They enjoyed monopoly rights to produce and trade in specific products
(iii) They also had the right to restrict the entry of new producers into the trade.
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