Why did the merchant turn to …
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Posted by The Knowledge Tv 6 years, 10 months ago
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Gaurav Seth 6 years, 10 months ago
- Merchants supplied money to peasants and artisans, persuading them to produce for an international market.
- Demand for goods increased since the European powers had acquired colonies and sold their goods in these colonies.
- But merchants could not expand production within towns because the urban crafts and trade guilds were very powerful.
- Rulers granted different guilds the monopoly rights to produce and trade in specific products.
- It was therefore difficult for new merchants to set up business in towns. So they turned to countryside.<button></button>
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