Final answer:
A general store in a remote community represents a geographic monopoly because it is the only supplier of goods in that area, often due to the impracticality of competition operating in the same location.
Step-by-step explanation:
A general store in a remote community is an example of a geographic monopoly. This occurs when a company is the only supplier of a product or service in a certain geographic area. In the case of a remote general store, it may be the only place where residents can conveniently purchase a wide array of goods. This situation often happens in remote areas because the costs and practicalities of operating such a business deter competition.
A natural monopoly differs in that it occurs when a single firm can supply a product or service to an entire market at a lower cost than two or more firms could. For example, a utility company providing water or electricity may be considered a natural monopoly because the infrastructure costs for entry are very high, making it inefficient for multiple companies to operate. However, in the scenario of the general store, it's the lack of competition due to geographic isolation that creates the monopoly, not necessarily the economies of scale.