Fontconfig
The default font for most applications is configured via fontconfig. See man 5 fonts-conf for details.
The following example changes the default sans-serif, serif and monospace fonts:
<?xml version='1.0'?>
<!DOCTYPE fontconfig SYSTEM 'urn:fontconfig:fonts.dtd'>
<fontconfig>
<!-- Default fonts -->
<alias binding="same">
<family>sans-serif</family>
<prefer>
<family>DejaVu Sans</family>
</prefer>
</alias>
<alias binding="same">
<family>serif</family>
<prefer>
<family>DejaVu Serif</family>
</prefer>
</alias>
<alias binding="same">
<family>monospace</family>
<prefer>
<family>DejaVu Sans Mono</family>
</prefer>
</alias>
</fontconfig>
To change default font selection system wide, copy the above into /etc/fonts/conf.d/52-my-default-fonts.conf.
To change default font selection for a single user, copy the above into $HOME/.config/fontconfig/conf.d/52-my-default-fonts.conf.
A list of installed can be obtained with fonts with fc-list.