Alfr, Alvar and Dvergar

As a rule, these beings are a secretive and mysterious lot. They live in the world of spirits and gods, and therefore have little communion with the world of men. Their desires and goals are not those of humanity. They are seldom susceptible to bribes of gold or jewels. Instead they may seek marriage or affairs with humans and sometimes take children to raise as their own.

The dwarves and elves of myth, legend, and folktale are a far different breed from those presented in the "classic" Fantasy Settings.
In the Norse imagination, dwarves and elves are more or less lumped together. The words are used somewhat interchangably to indicate any of a variety of strange beings with supernatural powers.

Ignoring their differences in appearance, all dwarves and elves are considered to be more or less the same type of being. Known by a variety of names.