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The denouement is the narrative element that resolves the main conflict of the story. After the climax, where the peak of tension and drama occurs, the denouement serves to bring closure to the plot by tying up loose ends and clarifying the outcomes of the characters’ journeys. It allows readers to understand how the events have led to the characters' final situations, ultimately providing a sense of resolution and completion to the narrative arc.

In contrast, the exposition introduces the characters, setting, and initial situation of the story, setting the stage for the conflict but not resolving it. The rising action involves the development of the conflict and the buildup of tension as various obstacles arise, leading up to the climax. The conflict itself refers to the central struggle or problem faced by the protagonist, which the denouement ultimately resolves. Thus, the denouement is crucial for providing clarity and closure after the conflict has reached its peak.