Which of the following statements in the context of the tradition of 'Lokayatas' relevant in Ancient India is correct?

The scholars of this approach have been described as materialists.

The correct answer is Option 3 - The scholars of this approach have been described as materialists.

The only correct statement about Lokayatas is: The scholars of this approach have been described as materialists.

Incorrect options with correction:

Option 1- According to the tradition of the AJIVIKAS, not Lokayatas, everything is predetermined.

Option 2- Makkhali Gosala belonged to the tradition of the AJIVIKAS, not Lokayatas

The Makkhali Gosala belonged to the tradition of the Ajivikas. They have often been described as fatalists: those who believe that everything is predetermined. King Ajatasattu met Makkhali Gosala and described the conversation he had with him to Buddha.

Ajita Kesakambalin  belonged to the tradition of the Lokayatas, usually described as materialists. Texts from these traditions have not survived, so we know about them only from the works of other traditions.