Answer to Question #178567 in Economics for Lukyamuzi Jude

Question

How does a feudal state differ from a market society

Answer 1

The difference between capitalism (market society) and feudalism is that capitalism refers to the capitalist economic system and is characterized by private or corporate ownership of goods to earn a profit, whereas feudalism relates more with socialism or the social-economic system where the people are divided into two classes- the nobility, who owns the system, and the peasantry, who works for the nobility.