Common Bows-
Recurve: The only type of bow allowed in Olympic competition. Its limbs curve away from the archer.
Compound: This bow has pulleys and cables to make the holding weight less than half of the draw weight.
Barebow: This is a recurve bow without a mechanical sight or stabilizers.
Crossbow: A short bow mounted horizontally at the end of a stock that is similar to a rifle stock.
Archery's Costs
Recurve -- Beginners' level equipment can be rented for approximately $3. Used beginners' equipment (bow, arrows), can be bought for less than $100. New beginners' equipment can be bought for approx. $100. Basically, archery is like golf when it comes to equipment - if you want to go out and buy top of-the-line equipment at the start, you can spend up to $1,500.
Competitive Level -- Equipment (bow, arrow, sights and other accessories) can range from $800 to $1,500.