The next section located under Basic site settings is referred to as FRONT PAGE and is used for managing which node or page Drupal will use as the default front page:

When a Drupal site is first created, Drupal will configure the front page to utilize a view of all the content that has been created. In almost every case, we will create a specific node or piece of content to use as our home page. Once this node has been created, we can configure the FRONT PAGE section to point to the specific node ID.