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Explain guilds

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Explain guilds

Posted by Akash Mandal 7 years, 11 months ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 7 years, 11 months ago

(i) Trade guilds were associations of producers that trained craft people, maintained over production, regulated competition and prices.
(ii) They enjoyed monopoly right 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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CBSE > Class 10 > Social Science