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

During the Middle Ages, the primary economic system in Europe was feudalism. This system was characterized by a hierarchy of lords, vassals, and serfs, where land was the main source of wealth and power. Lords owned large estates and granted portions of their land, or fiefs, to vassals in exchange for military service and loyalty. Below the vassals were the serfs or peasants who worked the land, providing agricultural output that sustained the manor and, by extension, the local economy.

Feudalism was not just an economic system; it was also a social and political framework that defined relationships and obligations among various classes. The reliance on agriculture meant that economic activity was localized, and trade was limited compared to later periods. Towns and trade began to rise toward the end of the Middle Ages, but feudalism remained the dominant system throughout the majority of this era.

Capitalism, mercantilism, and socialism emerged as economic systems later, after the Middle Ages, making them inappropriate choices for describing the predominant system in Europe during this time.