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.
The Law of Demand states that when the price of a good rises, and everything else. remains the same, the quantity of the good demanded will fall. In short, âP â âQd. Note 1: âeverything else remains the sameâ is known as the âceteris paribusâ or âother. things equalâ assumption.