A company with a pure monopoly means that a company is the only seller in a market with no other close substitutes. ... Also, with pure monopolies, there are high barriers to entry, such as significant start-up costs preventing competitors from entering the market.
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Factors such as extraordinary achievement of trade developments and control of the economy by the merchant class led to the growth in North Italian region.
<h3>What are the conditions of North Italy?
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The northern region in Italy is one of the most developed regions in the country. It has become an important center for trade since the past few centuries.
Cities like Venice have an excellent trade connectivity with the neighboring hubs for trade, which gave rise to the merchant class in the economy of North Italy.
Furthermore, with the approach of Renaissance Age, North Italy became the heart of the Byzantine Empire, leading to crucial developments in the region.
Hence, it can be stated that the aforementioned factors have led to the growth in North Italy.
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