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Q.

Guilds were the associations of ____.


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Detailed Solution

Guilds were the associations of producers.
Guilds flourished in Europe between the 11th and 16th centuries and were an association formed by merchants or artisans to protect mutual and professional interests. It can also be defined as associations of merchants or producers that train crafts persons, control the production of goods, regulate the price of goods and restrict the entry of new people into their trade competition. The guilds also had the support of rulers and the right to produce and trade specific products, and the rulers themselves granted a monopoly. New merchants set up their businesses in the countryside instead of in towns.
 
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