Question

Which of the following is not the feature of Trade Guilds? * *
1 point
Trade Guilds trained craftsmen, maintained control over production, regulated competition and prices
Trade Guilds restricted the entry of new people within the trade.
It is an association of producers.
It is an association of consumers.

Answer 1

The correct answer to the question is Option D.

• Trade Guilds are not a consumer group. As a result, the right answer to the question is D.
• The following functions were performed by trade guilds:

1. Trade guilds were producer organizations that instructed craftspeople, oversaw output, and regulated price and competition.
2. They possessed exclusive rights to produce and sell particular products.
3. They also had the power to impose restrictions on new producers entering the market.

• As a result, the right answer to the question is D.