CPU- and I/O-bound
CPU bound: This can be work that requires a significant amount of processing of your CPU, for example, the image rendering on your pc

I/O-bound: This can be work that requires heavy duty work to get data which is not stored in your RAM, for example, get data from API or database 
Dispatchers:
Dispatchers are a pool of threads

+-----------------------------------+
|         Dispatchers.Main          |
+-----------------------------------+
| Main thread on Android, interact  |
| with the UI and perform light     |
| work                              |
+-----------------------------------+
| - Calling suspend functions       |
| - Call UI functions               |
| - Updating LiveData               |
+-----------------------------------+

+-----------------------------------+
|          Dispatchers.IO           |
+-----------------------------------+
| Optimized for disk and network IO |
| off the main thread               |
+-----------------------------------+
| - Database*                       |
| - Reading/writing files           |
| - Networking**                    |
+-----------------------------------+

+-----------------------------------+
|        Dispatchers.Default        |
+-----------------------------------+
| Optimized for CPU intensive work  |
| off the main thread               |
+-----------------------------------+
| - Sorting a list                  |
| - Parsing JSON                    |
| - DiffUtils                       |
+-----------------------------------+