1. The problem asks to name the fraction shown by the arrow on the number line between 0 and 1, closer to 0. 2. The number line is divided into 4 equal parts between 0 and 1, so each part represents $\frac{1}{4}$. 3. The arrow points to the first mark after 0, which corresponds to $\frac{1}{4}$. 4. Therefore, the fraction shown by the arrow is $\frac{1}{4}$.