Used primarily for safe descent from high altitudes (e.g., a spacecraft reentering the atmosphere, a person or object dropped from an airplane), parachutes can also be used in horizontal configurations to slow objects like race cars that have finished their runs.
There are two basic types of parachutes. One is a dome canopy made of fabric in a shape that ranges from a hemisphere to a cone; the canopy traps air inside its envelope, creating a region of high pressure that retards movement in the direction opposite the entering air flow.
The other is a rectangular parafoil, or ram-air canopy, consisting of a series of tubular cells; commonly used by sport jumpers, the parafoil acts as a wing, allowing the jumper to "fly" toward a target.
The parachute had an social and economic effect on people because it was revolutionary because it made air transport and a change for some people who liked the idea.
Its main purpose was just to be a personal device but eventually grown to be versatile for other uses such as air transport , military training , and other form of entertainment.