Emulsions are the colloids in which both the dispersed phase and dispersing medium are liquids.
Colloidal solution: A colloidal solution is a heterogeneous system that has particles ranging between 1 and 1000 nanometers in diameter, yet is still able to remain evenly distributed throughout the solution. These are also known as colloidal dispersions because the substances remain dispersed and do not settle to the bottom of the container.
In colloids, one substance is evenly dispersed in another. The substance being dispersed is referred to as being in the dispersed phase, while the substance in which it is dispersed is known as the dispersion medium.
Emulsions: Emulsions are the mixtures of two or more types of liquids where, one is such as droplets, of tiny or even ultramicroscopic size, which are distributed throughout each other.
The statement emulsions are the colloids in which both dispersed phase and dispersing medium are liquids is true.