What role did guilds play in the economic life of the cities?

answer

Explanation:

Guilds assumed a significant part in the monetary existence of urban areas. Each art, for example, leather experts, craftsmen, and bread cooks, had their own organization. The specialty organizations set the standers for a significant number of the items made. They likewise set the cost of the products. The societies additionally restricted the measure of individuals who could enter a particular exchange and the means they needed to follow to do the exchange.

first industrial revolution - the first wave of the industrial revolution lasted from the late 1700s to the mid-1800s. it industrialized the manufacture of textiles and began the move of production from homes to factories. steam power and the cotton gin played an important role in this period.