The region's Rings of Fire is often seen in the news due to frequent earthquakes, which of the following statements is correct about Rings of Fire?

1
The Ring of Fire is a geological zone that is exclusively found in the Atlantic Ocean and is characterized by frequent earthquakes.
2
The majority of the world's active and dormant volcanoes are located within the Ring of Fire, which encircles the Arctic Ocean.
3
The Ring of Fire refers to a major area in the basin of the Pacific Ocean where a large number of earthquakes and volcanic eruptions occur, due to the movement of tectonic plates.
4
It is a circular geological formation that results from meteorite impacts rather than tectonic activity and encompasses only the coastal areas of South America.

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