Media Literacy... What is it... and why should you care??

So what is literacy? 
According to the dictionary "Literacy. Noun. The quality or state of being literate, esp. the ability to readand write." I think everyone knows what this word means and implies... but without literacy we would be figuratively blind to most of the world around us. The world absolutely thrives on literacy, you wont find a place in the world that does not have its own written language. We live in a literate world.


Now, what's "media literacy......."?
According to the dictionary... there is no such thing as Media Literacy.... So what do you think it is? This question was asked to a few people in this video, they were asked to give their definition of what they thought media literacy was here.
Personally I believe them to be correct, these days we Facebook, Myspace, Tweet, Formspring, Blog, websurf, etc... by doing this we are becoming media literate, you learn how to control what you do and how to make it better serve you. Its what our world is becoming and has already become.