Which of the following describes the components of Freytag's Pyramid?

Freytag's Pyramid describes the structure of a narrative plot in five key components: exposition, rising action, climax, falling action, and resolution. The exposition introduces the characters, setting, and initial situation, providing the background necessary for understanding the narrative. The rising action involves the development of conflicts and complications that build tension leading up to the climax, which is the turning point or most intense moment of the story. Following the climax, the falling action presents the consequences of the climax and begins to tie up loose ends. Finally, the resolution brings closure to the narrative, resolving the conflicts and providing the reader with a sense of completion.

Other options lack important elements or do not present the complete structure defined by Freytag, which includes both rising and falling action to fully encapsulate the narrative arc. Thus, the thoroughness and sequence outlined in the correct choice effectively capture the essence of Freytag's Pyramid, making it the accurate description of narrative structure.