These areas are examined:
Define the elements of a story
The impact these elements have when used in combination of each other
Please allow some of my notes to help. It seems like your professor wants you to find 10 sources and carefully define the terms.
As you first define setting, please note how it indicates a story's time and place. Research suggests that "While setting includes simple attributes such as climate or wall décor, it can also include complex dimensions such as the historical moment the story occupies or its social context" (http://bcs.bedfordstmartins.com/virtualit/fiction/elements.asp?e=3). You might also add that setting "is often developed with narrative description, but it may also be shown with action, dialogue, or a character's thoughts" (http://bcs.bedfordstmartins.com/virtualit/fiction/elements.asp?e=3).
Setting also includes many other parts. For example, it is also called the "total environment for the action of a fictional work. Setting includes time period (such as the 1890's), the place (such as downtown Warsaw), the historical milieu (such as during the Crimean War), as well as the social, political, and perhaps even spiritual realities" (http://www.virtualsalt.com/litterms.htm).
Setting also refers to physical details and "circumstances in which a situation occurs. Settings include the background, atmosphere or environment in which characters live and move, and usually include physical characteristics of the surroundings" (http://www.uncp.edu/home/canada/work/allam/general/glossary.htm#s). You might also note that the setting lets the reader envision how a story unfolds.
As you look at simplistic versus complex, please note that settings "may be simple or elaborate, used to create ambiance, lend credibility or realism, emphasize or accentuate, organize, or even distract the reader. Settings in the Bible are simplistic. In the book of Genesis, we read about the creation of the universe and the lives of the descendants of Adam. Great detail is taken in documenting the lineage, actions, and ages of the characters at milestones in their lives, yet remarkably little detail is given about physical characteristics of the landscape and surroundings in which events occurred" ...
This posting offers links to define various aspects of short stories.