why are gulid formed
Answers
Guild is an association of craftsmen or merchants formed for mutual aid and protection of their professional interests. Guilds flourished in Europe between the 11th and 16th centuries.
The medieval guilds had merchant guilds or craft guilds.
Merchant guilds were associations of the merchants in a particular town or city . These could be local or long-distance traders, wholesale or retailers dealing in different categories.
Craft guilds were associations of people involved in occupation that usually comprised of artisans and craftsmen in a particular branch of industry or commerce. There were, for instance, guilds of weavers, dyers, and fullers in the wool trade and of masons and architects in the building trade etc.
Guilds played a pivotal role in the local economy by establishing a monopoly of trade in their locality or within a particular branch of industry or commerce,maintaining standards for the quality of goods and the integrity of trading practices in that industry and even provide stability of price for their goods and commodities; and also achieve their economic objectives of their members.
The guild is considered as an association of the merchants and artisans that practice the trading and craftsmanship in a particular field.
They are usually the earliest types of build that were in the era due to the confraternities of the tradesmen.
It can be the trade union, professional association, secret society or cartel.