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. Demand, in economic terms, shows how much of a product consumers are willing to purchase, at different price points, during a certain time period. After all, we all have limited resources, and we all have to decide what we're willing and able to purchase â and at what price.