UPSC Civil Services Model Paper 4

Exclusive Economic Zone (EEZ):
It is prescribed by the United Nations Convention on the Law on the Seas. So, option 1 is NOT correct.
The difference between the territorial sea and the EEZ is:
The former confers full sovereignty over the waters, whereas the second is merely a "sovereign right" which refers to the coastal state's rights below the surface of the sea, for e.g. to exploit marine resources or energy resources or any other resource.
Hence, options 3 and 4 are NOT correct and option2 is correct.