What was the main economic system in Europe during the Middle Ages?

Feudalism was the dominant economic system in Europe during the Middle Ages, beginning around the 9th century and continuing until the rise of early modern economies in the late 15th century. This system was characterized by the hierarchical arrangement of land tenure and obligations between various classes of society, primarily lords, vassals, and serfs.

In feudalism, land was the primary source of wealth and economic power. Lords owned large estates and granted portions of this land, known as fiefs, to vassals in exchange for military service, loyalty, and other obligations. Serfs, who worked the land, were often bound to the lord's estate and provided agricultural labor in exchange for protection and a place to live. This arrangement created a self-sufficient economy, with most goods produced locally and a limited reliance on trade.

The other systems listed—capitalism, mercantilism, and socialism—developed much later. Capitalism emerged with the rise of trade and markets in the late Middle Ages and into the Renaissance, emphasizing private ownership and profit-driven enterprise. Mercantilism became the dominant economic theory in the 16th to 18th centuries, focusing on national wealth accumulation through trade balance and state intervention. Socialism