Feudalism: A social system in medieval Europe where nobles held lands from the Crown in exchange for military service, while peasants were obliged to live on their lord's land and give him homage, labor, and share of produce. It’s similar to renting an apartment – you get shelter but have obligations towards your landlord.
Indentured Servitude: A labor system where people (indentured servants) signed contracts (indentures) to work for a certain period of time in exchange for transportation, food, and shelter. It's like an internship - you work for experience or some benefits but not always for money.
Capitalism: An economic system based on private ownership of production and their operation for profit. It’s like running your own lemonade stand – you invest, produce, sell and earn profits.