What does “Literary Fiction” means and what’s the difference with Fiction?

Question

What does “Literary Fiction” means and what’s the difference with Fiction? How do I spot it easily? what is its definition and its characteristics?

In: Other

Answer 1

Generally it refers to fiction that is grounded and believable as opposed to fiction with speculative elements like fantasy or sci-fi.  

 So a book about a high school kid dealing with their sexuality would be literary fiction. But if the same high school kid developed some magical powers it becomes fantasy instead.