Fonts are one specific type of writing in one specific size, while typefaces refer to all the sizes of a specific type of writing. I make this reference from this site.
Each typeface has a different purpose. Some typefaces are used to mimic handwriting, while others mimic elder styles, and some that are used as a specific style of some person.
The greatest importance of typeface selection is that they can be displayed on other computers and still looks goods. Times New Roman is the most popular of these choices because they are the most common of all typefaces. Many different Typefaces are usually chosen to control the look of the website if the viewer does not have the correct type of typeface. I gleaned the information from this site.
This site is an excellent example of well chosen typeface, while This site has poorly chosen typeface.