Lists can be used for all sorts of information that is not included in the hierarchic data tree. The single elements are displayed (similar to news) with the document type "Item overview". Item overviews can be sorted in chronological or alphabetic order and shown at any place in the data tree.
Lists are typically used as a minimal product database. This does not mean that you can use an item overview to create a large product database. But you don't need to take up a comprehensive database to display few, e.g. 100 entries.