Ive read tons of threads on here and google and for some reason I still dont really understand what singletons are in relation to Magento. For example I created an observer that listens for an order save event and does some custom logic. Per the advice I received in another thread I have my class as singleton. How do I know this is correct? Could it be something other than singleton?
<frontend>
<events>
<checkout_type_onepage_save_order_after>
<observers>
<reducesetinventory_save_order_observer>
<class>MyModule_ReduceSetInventory_Model_Observer</class>
<method>checkout_type_onepage_save_order_after</method>
<type>singleton</type>
</reducesetinventory_save_order_observer>
</observers>
</checkout_type_onepage_save_order_after>
</events>
</frontend>
<global>
<models>
<myname_reducesetinventory>
<class>MyName_ReduceSetInventory_Model_Observer</class>
</myname_reducesetinventory>
</models>
</global>