How do different types of collections in Python differ, and in which cases is it better to use them?

Python has several main collection types:

• list — an ordered, mutable set of elements. Used when order matters and you need to modify contents.
• tuple — an ordered, immutable set. Good for fixed data that should not change.
• set — an unordered collection of unique elements. Used for fast lookup and removing duplicates.
• dict — a dictionary that stores key-value pairs. Great for associative data.

Example:

my_list = [1, 2, 3]
my_tuple = (1, 2, 3)
my_set = {1, 2, 3}
my_dict = {'a': 1, 'b': 2}

The choice of collection depends on the task: whether order, mutability, element uniqueness, or key-based access is needed.