The catalyst and reactants are in the same phase, usually liquid.
Examples are
Advantages
There is good contact with reactants so a much greater effective concentration
of catalyst than with heterogeneous catalysts. This means that to achieve
the same rate milder conditions can be used and so it is possible to achieve
greater selectivity.
At the research and development stage it is often quicker and simpler to work with homogeneous catalysts, and then find ways of making the system heterogeneous for industrial application.
Disadvantages
The catalyst needs to be separated after reaction. This separation can involve
distillation.
In some cases this makes catalyst recovery difficult because the temperature
needed for the distillation can destroy the catalyst
Catalyst and reactants are in different phases, either
reactants: gases
catalyst: solid
reactants: organic liquids or aqueous solutions
catalyst: solid
It is easier to study gas reactions.
Some examples of heterogeneous catalysts are
Advantages
Disadvantages