Which of the following is true about the European Convention on Human Rights?

The European Convention on Human Rights (ECHR) is a key document that guarantees various civil and political rights to individuals. The Convention was established to protect human rights and fundamental freedoms across its member states, which are primarily located in Europe. It encompasses a wide range of rights including the right to life, the prohibition of torture, the right to a fair trial, freedom of expression, and the right to respect for private and family life, among others.

These rights are legally binding on the states that are party to the Convention, and individuals can seek recourse for violations of their rights through the European Court of Human Rights. This highlights the Convention's role in upholding and enforcing civil and political rights within its jurisdiction, which is critical to its function as part of the international human rights framework.

In relation to the other options, the European Convention on Human Rights is indeed a binding agreement, specifically concerning civil and political rights, and it includes mechanisms for enforcement through the court system. It is not limited to economic rights, making the statement in the correct choice pivotal in understanding the Convention's scope and authority.