Why would it benefit a company to restrict its supply of a product to consumers when consumer demand for the product is high?

They worked for the noble vassals. In a return, they got a place to stay, in the estate that belonged to the vassal. For that benefit, they worked very hard so they could repay their debt. When it came to power over politics and control of the property, they had none. If a noble vassal decided to sell his property, serfs would be sold, too.

Nobles -- belonged to the highest social class in the feudal system. They got their lands from the monarch, in return, they had to provide certain favors and services for him. Usually services that have something to do with military. This type of class was a hereditary class, and it carried certain financial and other benefits within.

Clergy -- it's a class of religious people. Priests, pastors, bishops, etc.carried this title. They had certain influence when it comes to making decisions on certain topics that were made by the politicians. When it comes to power, they didn't really have it, but they had influence on some spheres.

Merchants -- this title was carried by the people that used to set up businesses in towns and traded different things. Those goods weren't produced by them.

There are two types of merchants:

A wholesale merchant -- his role was to work between a producer and a retail merchant.

They organized the moving of the things that are made, but they don't move them.

A retail merchant -- is a person that sells certain things, to people who will consume them.

For example, a person that owns a place where certain goods are sold, he is a retail merchant.

Knights -- they used to serve for the lord. They were their company in the court and their role was to protect them. They were also armored and they rode on a horse. Not everybody could afford to be a knight as the equipment was very expensive. They also used to watch over the Lord's manor in order to make sure everything is doing well. The payment was in the form of land holdings. When it comes to Lords, they had big amounts of respect and trust towards knights.

Artisans -- people with certain skills and they made things with their own hands. The things they made were either for the everyday use or sometimes even only for the decoration.

Some of the goods they made: liquor, shoes, clothes, household items, tools, jewels etc.

2. What were the serfs, nobles, clergy’s, merchants, monarchs, knights, artisans place in the social hierarchy?

When it comes to social hierarchy, in the Middle Ages, it goes like this:

1. Pope/Church

2. Monarch

3. Nobles

4. Knights/ Vassals

5. Merchants / Craftsmen / Farmers

6. Peasants / Serfs

3. What were some challenges faced by serfs, nobles, clergy, merchants, monarchs, knights and artisans groups?

 4. What were the potential benefits of belonging to serfs, nobles, clergy, merchants, monarchs, knights, artisans groups?

1. Peasants and serfs belong to the lowest social status there were.

They used to work in the fields for many hours, but they also had time to have fun and do certain activities.

2. On a bit better position, there were merchants, farmers and craftsmen.

They were a bit more educated than the serfs and peasants, so they had a better life than them. They used to pass down to their offsprings everything they had learn. The last name they carried usually indicated what skills they had.

3. When it comes to Knights and vassals, they were sometimes members of the clergy. They carried many responsibilities with them and they served to any member that belonged to the clergy. Sometimes they would even maintain the manor where Lords used to lived, and they had to make sure that everything's going well in the manor.

4. Then, we have Nobles. They had a pretty high level of education.

When it comes to their wealth, they wouldn't make it by themselves, but they would inherit it from their ancestors. They used to believe that they had every right to secure their positions because of their families.

5. Then, on the top of the social pyramid, we have Monarchy.

They had the biggest power and authority and if a person wanted to be a part of this social class, they would have to be related by blood to the King.

* When it comes to disadvantages of being an artisan, it was the fact that they had no freedom. They used to be vassals of the person that used to own the part of the land where they worked. They didn't have permission to move from one village to another, without getting the permission from the person that was their Lord. And they would be overtaxed.

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