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The United Nations Economic and Social Council (ECOSOC) is not comprised of 24 member states, making statement 1 incorrect. However, the members of the ECOSOC are indeed elected by a two-thirds majority of the General Assembly for a three-year term, making statement 2 accurate.
To breakdown the options, option 1 suggests only the first statement is correct, which we`ve identified as false. Option 2 surmises that only the second statement is accurate, and as explained, this is indeed the factual option.
Option 3 proposes that both statements are correct, which we`ve established is incorrect due to the first statement`s error. Lastly, option 4 suggests that neither statement is correct, which we`ve identified as incorrect based on the accuracy of statement 2.
Thus, the explanation shows why option 2 (2 only) is the correct answer. The members of ECOSOC are elected by a two-thirds majority of the General Assembly for a three-year term.