A character is either a good guy or a bad guy in a story; they can either be main characters or side characters. An example of a good main character in The Lord of the Rings is Frodo. A side character in this book is Tom Bombadil.
The setting is the time and place in which a story takes place. One example of a setting, from The Lord of the Rings, is "during the great war between Mordor and Gondor."
The climax is the turning point of a story. One example of a climax from The Lord of the Rings is when Frodo threw The Ring of Power into Mount Doom.
The conflict is something that sparks the rising action in a story. One example of a conflict from The Lord of the Rings is when The Ring of Power came into Frodo's possession.
The resolution is the ending of a story. One example of a resolution in The Lord of the Rings is when Frodo went away with Gandalf and Bilbo to Valinor after freeing Hobbiton of Saruman.