What does it mean on Facebook when it says "privacy - friends"?

[Lilly]

And what does "privacy - public" mean?

[Rachel]

Privacy-public means that anyone can see your stuff whether they know you or not.

Privacy-friends means that only the people whose friend request you have accepted can see it

privacy- you means only you can see it

[Anonym]

Privacy - friends: is when only your friends can see what you are doing.
Privacy - public: is when the whole world can see what you are doing.