Why is folk music called “folk”?

context: I’ve googled it, and I understand what the word “folk” means, but still don’t understand and it raised more questions than answers 
Folk music is called folk music because it is imprecisely named[2] and has traditionally been passed down in smaller social groups, such as families and other small social groups[1]. It is typically learned through hearing, rather than reading[1]. It is functional music, associated with other activities[1]. It is primarily rural in origin, though its usefulness varies from culture to culture[1]. The term "folk music" originated in the 19th century, but the music itself extends beyond that[2]. In the mid-20th century, a new form of popular, contemporary folk music evolved from traditional folk music[2][3]. This process and period is called the (second) folk revival and reached a zenith in the 1960s[2][3]. This new form of folk music is sometimes called contemporary folk music or folk revival music to distinguish it from earlier folk forms[3].
The term folk music was coined in 1846. Until that time there was no single word to describe the music of the "uncultured classes" [1, 2]. The terms folk music, folk song, and folk dance are extensions of the term folklore, which was coined by the English antiquarian William Thoms [1, 2]. This term was derived from the German expression volk in the sense of "the people as a whole" as applied to popular and national music by Johann Gottfried Herder and the German Romantics over half a century earlier [2]. In England, the word "folk" originated and was borrowed from the word "volk" (German) referring to folks or people. Thus, folk music is the music of the people [3].