Answered

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How did the formation of guilds impact the economy?

A. Decreased educational opportunity for the peasant class
B. Offered peasants a means to achieve upward mobility
C. Replaced a money economy with a barter economy
D. Improved the status of women

Sagot :

GinnyAnswer

Final answer:

Guilds influenced the economy by setting prices, wages, and quality standards, thus impacting profitability for members.


Explanation:

Guilds had a significant impact on the economy by regulating admission to crafts, setting prices, wages, and quality standards, thus maintaining profitability for their members. The restriction on entry into privileged industries limited competition and allowed established producers protection in the market. The liberalization that followed, including the reduction of guild power, led to a freer movement of capital and labor, contributing to the expansion of a market economy.


Learn more about Guilds and their economic impact here:

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