Identify whether the statement is true or false? 

“If centrifugal force stops acting on all satellites they would continue travelling in space in a constant direction and at a constant speed.” 

The correct answer is 'True'.

The centrifugal force is a fictitious force. This force is assumed by an observer moving along the body in a circular motion to act in the direction away from the centre of circular path.
If this force is removed then satellite will not move in circular path
Hence it is False