Choose the given statement that is true/false:

A guild is an association of artisans and merchants who oversee the practice of their craft/trade in a particular area.

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True

False

answer is A.

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Detailed Solution

The above statement is true.
Guilds are outlined as craftsmen and merchant associations created to protect their members' economic interests and offer logistic assistance. They regulated the prices and prices, maintained control over production, and restricted the entry of new people into the trade. It also sets the standards for guarding its members' interests. Though their primary role was economical, guilds conjointly influenced social and political life tremendously. The organisation supported members if they faced adversity like sickness or money problems. Hence, a guild is a group of craftspeople and business owners that regulate the use of their trade in a specific location.

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