What are characteristics of medieval European feudalism?

The features of feudalism are as follows:

1.Feudalism was based on land owner-ships.

2.The higher classes gave protection the lower classes in return for a amount of their crops or services.

3.Feudalism represents a low level technique in which the instruments of the production are simple and generally inexpensive.

4.The act of production is largely individual in nature.

5.It is not the result of complex division of labour

Alright, the feudal system was centered around a hierarchy like this

At the top: King

Next: Lord

Next: Knight

Last: Serf/ sharecropper guy.

What happens is that the knight will give the serf a place to live, some land, and necessities for survival if he will give a majority of his earnings to the knight. The lord then gives pieces of land, called fiefs, to the knight in exchange for loyalty and protection. Finally, the king will gives fiefs to the lords in exchange for their loyalty and protection [the knights]. This really discouraged commerce, so the farming techniques were low level, and earnings were generally not high.