The correct answer is option 1, which is Original Jurisdiction. Original jurisdiction refers to the authority of a court to hear a case for the first time, rather than on appeal. In this case, the Supreme Court has the power to directly hear and settle election disputes of both the President and Vice-President. This means that if there is a legal dispute regarding the election of these high-ranking officials, the Supreme Court has the authority to be the first and final arbiter of the case. It is important to note that the Supreme Court also has appellate jurisdiction, which means it can hear cases on appeal from lower courts, but in this particular matter of election disputes, it exercises original jurisdiction.