Final answer:
The scenario where Jamie borrows $10,000 and pays back $11,156 illustrates the concept of 'interest', as the additional amount represents the cost of borrowing money.
Step-by-step explanation:
The economic concept exemplified by Jamie borrowing $10,000 from the bank and then paying back a total of $11,156 is interest. This additional amount over the principal loan reflects the interest rate, which is the "price" of borrowing money in the financial market and serves as a rate of return for the lender. Jamie's loan is an example of the cost associated with borrowing money, and the interest serves to compensate the lender for the risk taken as well as the opportunity cost of lending the money.