What is characterized by the term "Feudalism"?

The term "Feudalism" is characterized by a system of land ownership and duties between lords and vassals. This historical system, prevalent primarily in medieval Europe, revolved around the holding of land in exchange for service. Lords, who owned significant tracts of land, would grant portions of their land to vassals in return for military service and loyalty. This mutual obligation created a network of relationships that structured society at the time.

In this system, vassals were not merely tenants; they were granted rights to the land and held a degree of power and responsibility. They were expected to manage the lands effectively and could also collect rents or taxes from the peasants who worked on their portion of the land. This hierarchical relationship was central to the functioning of feudal societies, shaping not just economic relationships but also social and political dynamics.

The other options describe systems that do not align with feudal principles: a democracy implies citizen participation in governance without the hierarchical land obligations, a free market refers to an economic system driven by supply and demand without centralized control, and a centralized regime with absolute power denotes an authoritarian structure that is distinct from the decentralized nature of feudalism.