Folktales are the tales people tell and are usually passed down by word of mouth, rather than being written in books. Sometimes people write down these tales in order to keep the stories of a particular community. The important thing is that folktales have no author. It just comes from the culture and is carried forward by constant retelling.
A fairy tale is a story which is often intended for children. It features characters such as elves, goblins, wizards and fairies. The settings are often in a fantasy or make-believe place and magic can be involved in the story.
Myths and Legends
A myth is a story that talks about events or objects that are important to a specific culture.
A legend often has an element of truth to the story but this can be exaggerated.
A fable is a short fiction story that has a moral or teaches a lesson. It often has animals in the story that can speak.