What are the stages of Freytag's Pyramid?

Freytag's Pyramid illustrates the structure of a narrative and consists of five stages: exposition, rising action, climax, falling action, and resolution. The exposition introduces the characters, setting, and initial conflict. The rising action builds tension through a series of events that complicate the conflict, leading to the climax, which is the story's turning point. The falling action follows the climax, resolving subplots and leading to the resolution, where the story concludes and conflicts are settled.