Information Literacy is basically knowing good, credible sources from those that are biased, lacking good factual information from untrustworthy sources.
The American Library Association states that an Information Literate person should be able to:
Just look around social media, on television, and in paper sources: Mis-information abounds--it's everywhere! A functioning society requires one that has citizens that are knowledgeable enough to make crucial decisions well. It is everything from purchasing food, headphones, cars, and houses to voting in the next election and raising their children well. So jump right in and increase your Information Literacy.