meaning & example of homogeneous product??
Homogeneous means identical to each other. If two goods are homogeneous, then it implies that both the goods are exactly the same in terms of colour, size, shape and features. You can consider two blue-inked Reynolds pen of Rs 6. There are two shopkeepers who are selling these pens. Thus, whether you purchase it from shopkeeper A or from shopkeeper B, you are indifferent between the two shopkeepers, since you are getting the same pen for the same cost.