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.
law of demand. Definition. The law of demand states that if supply is held constant, an increase in demand leads to an increased market price, while a decrease in demand leads to a decreased market price. Use law of demand in a sentence. â The law of demand was useful in explaining the price volatility for the product in the target market's region today.