Consider the given statement as true or false:

Guilds were associations of producers that maintained control over production.

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Detailed Solution

The given statement is true. Guilds were associations of producers that maintained control over production.
'Guild 'Means a union of people who are artisans or traders like weavers or leather workers. They come together to form an association for mutual aid and to advance their interests. They trained people interested in practicing their profession, maintained strict control over the production process, and kept vigil on competition and prices. They never allowed outsiders or new people to manufacture or conduct trade. The guilds declined with the monarchy's end and nation-states' emergence.

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