WORLD HISTORY

Detailed explanation-1: -Feudalism was the economic and political system of Medieval Europe. It was land-based and built upon the system of loaning a loyal person land in return for military service and taxes. It depended upon loyalty and the use of land as wealth.

Detailed explanation-2: -The basic economic law of feudalism consisted in the production of surplus product to satisfy the demands of the feudal lords, by means of the exploitation of dependent peasants on the basis of the ownership of the land by the feudal lords and their incomplete ownership of the workers in production-the serfs.

Detailed explanation-3: -feudalism, also called feudal system or feudality, French féodalité, historiographic construct designating the social, economic, and political conditions in western Europe during the early Middle Ages, the long stretch of time between the 5th and 12th centuries.