Describe any five major problems faced by new European merchants in se – InterviewSolution

1.	Describe any five major problems faced by new European merchants in setting up their industries in towns before the industrial revolution.
Answer» (i) Due to the expansion of world trade, the merchants wanted to expand their production. But hade and craft guilds were very powerful. (ii) They could create money problems for the merchants in their town (iii) Rulers had granted different guilds and the monopoly rights to produce and trade in specific products. So merchants were handicapped in towns. (iv) Guilds regulated competition and prices. (v) In the countryside, peasants and artisans were available for work.

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