Setting could refer to the time, place and people or society in which the story takes
When we talk about the physical setting, we refer to the geographic
location (place) where the story happens. There is usually more than one
physical setting in a novel.
The time setting tells us when the story takes place and how long it
lasts. The story could be in the past, the present or the future. It may
happen in a very short time; a few days or weeks, or it could unfold over
many months or years.
The social setting of a novel refers to the social background of the
people in the story. We can learn and understand many things about the people
in the story by looking at its social setting.