What is the first part of the plot that introduces characters, basic situations, and setting?

The first part of the plot that introduces characters, basic situations, and setting is called exposition. In this stage, readers are familiarized with who the main characters are, where the story takes place, and what the initial circumstances are. It sets the foundation for the story by providing context that is crucial for understanding the events that follow. The exposition effectively establishes the tone and background, enabling readers to engage with the narrative as it develops into more complex situations and conflicts in later parts of the plot.