What were guilds ?
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Posted by Gaurav Agrawal 6 years, 10 months ago
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Ravi Yadav 6 years, 10 months ago
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Yogita Ingle 6 years, 10 months ago
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. It was therefore difficult for new merchants to set up business in towns.
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