Emulsion is a mixture of two immiscible liquids, typically oil and water, stabilized by an emulsifying agent. It is a colloidal dispersion where small droplets of one liquid are dispersed throughout the other liquid. The emulsifying agent helps to prevent the separation of the two liquids by reducing the surface tension between them. Emulsions can be either oil-in-water (where oil droplets are dispersed in water) or water-in-oil (where water droplets are dispersed in oil). Emulsions are commonly used in various industries, including food, cosmetics, pharmaceuticals, and paints, to create stable and uniform mixtures.