Europe's economic and social structure from 1200 to 1450 was characterized by a feudal system, where land ownership and social hierarchy played critical roles in shaping society and the economy. This structure was dominated by a rural agrarian economy reliant on serfdom, with a small elite of nobles controlling vast estates while peasants worked the land. The relationship between lords and vassals defined political power dynamics, while emerging trade networks began to influence economic changes, setting the stage for later developments in European society.