The correct answer is option 1, which states that statements 1, 2, and 3 are correct.

Let`s dissect each option to better understand them:

Option 1: This option states that statements 1, 2, and 3 are correct.

- Statement 1: The EU is the world`s largest economy. This is true. According to data, the EU is indeed the largest economy in the world, surpassing the United States and China.

- Statement 2: The EU has its own flag, anthem, and currency. This is also true. The EU has its own flag, which consists of a circle of twelve gold stars on a blue background. It also has an anthem called "Ode to Joy" and its currency is the Euro, which is used by 19 out of the 27 EU member countries.

- Statement 3: The EU`s combined armed forces are the second-largest in the world. This statement is incorrect, as the EU does not have its own combined armed forces. Each member country maintains its own armed forces, and the EU does not have a unified military.

Option 2, 3, and 4: These options include incorrect statements, so they can be eliminated.

In conclusion, option