1 Under the health care law, you must have qualifying health coverage or pay a fee on your next federal tax return.  The penalty in 2016 is 2.5% of household income or $695 per adult (half of that per child), whichever is higher. Learn more about the fee for not being covered.
The law of supply is a fundamental principle of economic theory which states that, all else equal, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes.
Supply is the amount of a product producers are willing and able to sell at a certain price. Demand is the consumerâs desire and willingness to pay for a price for a certain product or service. Background. Supply is a basic principle that is used to determine the price of a product. It is most commonly used in economics.