Rails - Jun 2012 - The rails way to develop a multi product type shopping cart

Hi, 

I''m developing an application which has to manage many types of
products.
But I can''t think what the best approach in rails is on how to
implement
them. Here is a selection of some of the products (with some data types) 
that the software will have to manage: 
    Speaker
      Make - String
      Model - String      
      Wattage - Integer
      Price - Decimal

    Light
      Make - String
      Model - String      
      Wattage - Integer
      Price - Decimal

    Microphone
      Make - String
      Model - String
      Use - Choice of: Instrumental, Vocal, Versatile
      Price - Decimal

    Cable
      Length - Decimal
      Connector 1 - String
      Connector 2 - String
      Price - Decimal
    
    Stand
      Type - Choice of: Microphone, Speaker
      Height - Decimal
      Boom - Boolean
      Price - Decimal


Ways I have thought about the design:

   - An individual model for each type of product then a polymorphic 
   association in the cart so that it can handle all the types of equipment.
   - A single product model that has fields for all types of equipment with 
   a type field which can be checked when ever the product is used.
   - A product model with a price attribute then every type of product 
   extends that model.

But what is the best way in rails to handle these different types of 
products?


TIA, 

Dean

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