The correct answer is C) Most people owned land or small farms.
The statement that best describes the economy during Charlemagne's rule is "Most people owned land or small farms."
During Charlemagne or Charles the Great, he supported a balanced economy that included a monetary policy planned to enhance the use of silver in the western territories as the official currency of the Empire. He also promoted trade with different regions and support agriculture in the Empire. With these kinds of policies and measures, Charlemagne helped to develop the economic situation of Europe, and an important accomplishment to move the region out from Medieval times.