What is media literacy?

What are media effects?

Please also provide 2 peer-reviewed articles and references

 

Media literacy is the capacity to understand and generate messages in the media. It entails the ability to act, create, evaluate, analyze, access, and act using different forms of communication. Communication and media entails the creation and exchange of information. Having the ability to comprehend different forms of information while making sense of what is presented is important. It is from the primary concepts of media literacy that media products are generated and expressed in distinctive and aesthetic form. The meaning of media products is derived from the audience and the media itself have value, political, social, ideological, and commercial implications. 

The media effect defines the way some stories that the media or news publishes can amplify or influence the existing price trends in the overall market, sector, or a specific asset class. If this theory is reliable or credible, the after reading an article or headline, borrowers or investors tend to be affected by the headlines and react instantly to the news. The media effect is often considered in stock prices linked to changes in earnings and in the mortgage market when payment rates can rise due to certain news stories regarding the economy. It generally refers to the effect that media has on individuals.