What is Mercantilism?. / » Selected Problems of Medieval and Modern World History solved MCQs / By admin Question: What is Mercantilism?. A. state\s control the monopoly of trade and commerce B. state\s control the mode of production C. state\s control the bureaucratic people D. state\s control the monumental activities Answer» a. state\s control the monopoly of trade and commerce Note: The above multiple-choice question is for all general and Competitive Exams in India.