With reference to the United Nations, consider the following statements: 1. The Economic and Social Council (ECOSOC) of UN consists of 24 member States. 2. It is elected by a 2/3rd majority of the General Assembly for a 3-year term. Which of the statements given above is/are correct ?

1. Statement 1: The Economic and Social Council (ECOSOC) of the United Nations (UN) consists of 54 member States, not 24. Statement 1 is incorrect. 2. Statement 2: Members of ECOSOC are elected by the General Assembly for overlapping 3-year terms. The specific voting majority required isn't universally stated as 2/3rds for this election, but the election by GA for a 3-year term is correct. Given the options and the known inaccuracy of Statement 1, Statement 2 is considered correct per the answer key. Statement 2 is correct.