Question

What were the aims of medieval guilds during the medieval period?
A. To foster mutual help and cooperation
B. To maintain the monopoly of the markets
C. Attainment of economic stability
D. All of the above

Answer 1

Hint: The organization created by the people in the same craft or trade was known as a guild. The guilds which came to dominate the business life of towns and cities were merchant guilds.

Complete answer: These organizations, which were formed by craftsmen and merchants, promoted the economic interests of their members. Along with this they also provided protection and mutual aid. The Anglo Saxon word ‘geld’ is considered as the root word for the term ‘guild’. ‘Geld’ meant ‘to pay, contribute’.
The enforcement of contracts among the members and between members and outsiders was a duty which was seen by the guilds. The behaviour of the members was also policed by the guilds. Protection of the members against the predation of the rulers was also seen by the guilds.
Cooperation among the members was a must to attain their collective goals. Guilds formed stable and self-enforcing associations to convince members to cooperate.
Guilds still continue to exist, however, the membership is limited to the practitioners of a certain trade or activity.
Therefore, the answer is option D.

Note: Shreni was an association of traders, merchants in ancient India. These have been compared to the guilds which were present in the European nations. They operated just like the guilds. For the people working in a particular vocation or profession, a separate shreni existed. The village headman (gramik) used to be the head of the shrenis. Sometimes the shrenis and their leaders chose to move.