What were the guilds? Explain the role of guilds in production of crafts.

Guilds were the powerful organizations of traders and craftsmen which maintained control over the trade and production.

Role of guilds in the production of crafts are as follows:

• They controlled production and regulated prices of raw materials and finished goods.

• They established their monopoly over certain products in which they trade.

• They were also having the power to control trade (export and import) of other products which they felt would hamper their interest.