The elves Elves are known as the wisest and the most beautiful of all the races. They live as long as the world shall last unless they get killed by any enemies. The dwarfs Dwarfs are short and strong. Dwarfs live in the mountains in large caves. There they dig for gold and jewels.
Dwarfs have the reputation to be very stingy.
As a professor of English Language Tolkien had the ability to invent a new language. And so he did. He invented different languages. For each race its own. It has the same importance as English in our world.