Characteristics of Fiction
Fiction uses imaginative storytelling to create a tale that transports the reader into a created world and asks him to indulge in it without questioning its veracity. It can be anything from of writing like novels, short stories, plays, comics, animations, games etc. Here are the various characteristics of Fiction:
1-ThemeTheme is the controlling idea or message of a fiction story. It is the thread the binds all the characters to the setting and the plotline. The theme woven uses the plot as an organ to convey it.
Theme does not have to be the purpose of the story or a moral lesson and can be bizarre but constant and consistent throughout the story.
It should be universally impactful and must account for all other details of the story. It cannot be contradicted within the confines of the story.

Even though the theme is not stated and in often hidden every other detail must conform to it.

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It is different from a symbol which represent individual a part of the story and a motif which is a narrative device that is repeated throughout story.

The various themes can be love, truth, war, violence, revenge, tragedy, adulthood, etc.

2-CharacterizationCharacters are the various persons or animals taking part in the story. They act as prime movers to carry forward the plot. 
They form the footing for the plot. It is the circumstance of the characters and their interaction with other characters and setting of the story determines the propulsion of any story. Their experiences can be portrayed emotionally and mentally similar to the readers’ or audiences’ natural emotions to make them suspend their power to disbelieve.

A good characterization exercise requires solid back story of the characters in order to make the audiences understand the thoughts and actions of the characters.
The design of character arcs and how the characters progress through the story is crucial to pique the interest of the readers or audiences.

Some examples of characters in a fictional story are the protagonist (central character), the antagonist (agent/force against the protagonist), the anti-hero (the main object of sympathy from the audiences) etc.Some character are well rounded and complex while others are flat and predictable (static characters).

4-Plot
Plot is the blueprint of the story or the sequence of events in it. Its structure is ordered and organized and shapes the story.
The plot usually begins with an exposition or introduction. This is done to establish the setting and its characters. It is followed by a rise in action usually a conflict. A conflict even if it is an internal struggle with emotions etc, is quintessential for a good story.

Then we move to the climax or the inflection point. The tension is maximum at this turning point in the story. Everything hangs in the balance and the emotions are running high. It is the most critical part of the plot.

It is followed by a fall in action as things slow down. Tension dissipated and the final resolution is close. Finally, the resolution is attained. It can be sad, happy or even confusing.

 There are various techniques that are used to construct plots like foreshadowing, flashback, suspense and telescoping.

Some important element of a plot are conflict or disruption of equilibrium (Human vs. Human, Human vs. Environment, Human vs. Self, Human vs. Fate), suspense (why something is happening in the story), mystery (unexpected circumstances) etc.

3-StyleIt is the voice of the author or writer. It refers to the way words, expressions; emotions, timing, and mood are utilized by the writer to create a believable fictional environment in the story.

The word diction is used to represent the signature style a write incorporates in his work. It comprises of different devices like vocabulary and the kinds of words used (simple words, complex words abstract words, words representing tangible objects etc), syntactical arrangement and placement of various words, pattern of flow and rhythm of the text (length and composition of sentences, punctuation etc.)
The writing also involves the acuteness and intelligence of the writer. It can be overly dramatic, hostile, rebellious, sinister, brave, bitter, optimistic or even humorous, depending on the instinctive writing style of the author. It helps to engross the reader/viewer in the created mood or the feeling encouraged by the evocative and expressive words of the writer.
4-Setting
It is a multi-faceted term which gives information about where, when and how the action happens in a fictional story.It can be the description of the physical environment, time of the action, cultural, historical and social circumstances of the action.

A writer can use various devices to create details about the setting like clothing, transportation, communication (explicit or gestural). Information about psychology, philosophy education, religion, etc of the character can make the setting pivotal in engaging with the readers.

Authenticity and accessibility of the various details of the setting can make or break any work of fiction.

Creating the setting or building the World for your characters to explore and experience becomes pivotal in making the readers immerse in the made up environment of any fictional story.
5-Point of ViewIt represents the voice that is telling the story. It offers the angle to look at the subject and the setting of the story. The perspective is generally in first person or third person (second person is very rare).

In the first person POV, the writer becomes one of the characters. He gives his own insights and uses pronouns “I” or “we”. The first-person is intimate and brings a quality of personal knowledge of the events to the text. It is also very recent and immediate.

The perspective or POV can also be in third person who has omniscient knowledge about characters and the action in the story like a view point of a character in the narrator. It can also be from the POV of a character in the story and incorporated his/her knowledge and opinions of other characters. Third person POV gives a bird’s-eye view of the story and its multiple characters. It is less intimate and a bit slower but it gives the possibility to assess consequences of actions.

POV or the storyteller’s voice determines things like tense and how much the reader gets to see. The narration could also be in different tenses from present tense, past tense, and future tense (very rare).

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