An instance method is a function defined inside a class that operates on instances of that class. It can access and modify the data attributes of the instance.
Class Method: A method that is bound to the class and not the instance of the class. It uses 'cls' as its first parameter.
@staticmethod: A decorator to define a static method which does not modify or access any class or instance-specific data.
__init__ Method: The constructor method in Python classes, called when an object is instantiated. It initializes the object's attributes.