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What is the difference between capitalism entrepreneurs and guild masters?

User Taekahn
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Final answer:

The difference between capitalism entrepreneurs and guild masters lies in the economic systems they operate in and their roles in those systems.

Step-by-step explanation:

The difference between capitalism entrepreneurs and guild masters lies in the economic systems they operate in and their roles in those systems. In a capitalist system, entrepreneurs are individuals who seek to earn profits by finding new ways to organize factors of production, such as technology and resources. They operate within a market economy and have the freedom to make decisions about what to produce and how to produce it.

On the other hand, guild masters were part of a guild system, which was prevalent during the medieval era. Guild masters were artisans who had achieved the highest level of skill and expertise in their craft. They often had strict rules and regulations for membership and apprenticeships, limiting the advancement opportunities for outsiders.

User Rok Kralj
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