Hey! The answer your teacher is looking for might be subjective. That said, my response might not be correct even if it's valid.
Characteristics:
* Story presents clear, fast worldbuilding
* Story can convey a comprehensive theme in a short period of time
* Story has a concise narrative without dragging / rushing through key points.
Conflict:
A 2004 book by Christopher Booker lists 7 widely recognized archetypes for storytelling:
Overcoming the Monster
Rags to Riches
The Quest
Voyage and Return
Comedy
Tragedy
Rebirth
I'm gonna assume you can guess the conflict(s) of each archetype based on the names; just choose three of them.
Characters:
This is very subjective, but the most obvious answer is a protagonist, antagonist, and static / flat character (doesn't change throughout the story, serves some kind of supporting role).
Conditions:
Time and place; since it's such a simple answer, your teacher probably wants you to explain how these factors affect character behavior / the progression of a story.
I hope this helped!