Story Elements   Setting    Characters   Plot: Story Problem/Conflict   Climax  Resolution   Theme

The setting of a story tells us where and usually when a story takes place.

Time: Past, Present Day, Future

Place: Where does the story take place? (football field, Venus, etc.)
Does the Setting make a difference in the plot of the story?  For example, a story about a football player would not likely take place inside a submarine under the ocean.