SECTION B: Short Answer (45 Marks) Question 1 (5marks) For the following statements answer with a TRUE or FALSE. a. Eskom operates under a monopolistic market. b. Street vendors are price takers. c. If the demand for a good falls when income falls the good is called normal good. d. People's tastes are based on historical and psychological forces that are beyond the realm of economics. e. Normally sport stadiums have a vertical supply curve.