Question

What were guilds? How did they make it difficult for new merchants to set business in towns of england ? Explain?

Answer 1

(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.

Answer 2

Guilds were associations of producers who controlled the practice of their craft in a particular town.Merchants could not expand production within towns because here urban crafts and trade guilds were powerful.