extremes
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this is the outermost terms this is ''extremes''
8 as a proportion of 1/3 = 8 / (1/3) = 8 * (3/1) = 24
The last one is an example of like terms.
Sure, you can write something like 1:2:5. In reality this is a shortcut way of writing three different ratios, like 1:2 (from the first quantity to the second), 2:5 (from the second to the third), which implies 1:5 (from the first quantity to the third).
2000 dollars for second 1000 dollars for third