Detailed Explanation:

The Vice-President is elected by an Electoral College comprising all members (elected + nominated) of both Houses of Parliament—Rajya Sabha (245 members) and Lok Sabha (543 members).

For the 16th Vice-Presidential Election (2022), the total electoral college strength was 245 + 543 = 788 members. Unlike Presidential elections, nominated MPs vote here.

Therefore, 788 members constituted the electoral college, making Option 1 the correct answer.