Emulsions: It is a colloidal system in which both the dispersed phase and the dispersion medium are liquids, e.g., milk consists of small drops of liquid fat dispersed in water.
Types of emulsions:
(a) Oil-in-water type in which small droplets of an oil are dispersed in water, e.g., milk, cod-liver oil, etc.
(b) Water-in-oil type in which water droplets are dispersed in an oil medium, e.g., butter.