What does this mean for the economy? The law of increasing opportunity cost is fundamental to the production and supply of goods. In general, as the economy increases the quantity supplied of a good, the opportunity cost increases. And if cost is higher, then sellers need a higher price, resulting in the law of supply.
Tribune news servicesContact Reporter. President Donald Trump has signed a pair of bills into law aimed at recruiting more women for the fields of science, technology, engineering and math. Trump said at an Oval Office ceremony that it's unfair that only 1 in 4 women with a degree in one of these areas works in the field.
How a Bill Becomes a Law. Creating laws is the U.S. House of Representatives â most important job. All laws in the United States begin as bills. Before a bill can become a law, it must be approved by the U.S. House of Representatives, the U.S. Senate, and the President.Letâs follow a billâs journey to become law. If the U.S. House of Representatives and the U.S. Senate still believe the bill should become a law, they can hold another vote on the bill. 2  If two-thirds of the Representatives and Senators support the bill, the Presidentâs veto is overridden and the bill becomes a law.