What is the difference between dispersed phase and dispersion medium?

Hint: Try to recall that `dispersed phase is the component present in a small proportion and dispersion medium is generally a component present in excess. Now, by using this you can easily answer the given question.

Complete step by step solution:
* It is known to you that a colloidal solution is of heterogeneous nature. It consists of two phases: dispersed phase and dispersion medium.
* Dispersed phase: The phase in a two-phase system that consists of finely divided particles (as colloidal particles), droplets, or bubbles of one substance distributed through another substance are called dispersion phase or discontinuous phase or internal phase.
* Dispersion medium: The liquid, gaseous, or solid phase in a two-phase system in which the particles of the dispersed phase are distributed are called dispersion medium or continuous phase or external phase.
* Colloids are classified on the basis of following criteria:
A. Classification based on the physical state of the dispersed phase and dispersion medium.
B. Classification based on the nature of Interaction between dispersed phase and dispersion medium.
C. Classification based on type of particles of dispersed phase.

Additional information:
On the basis of affinity or interaction between the dispersed phase and the dispersion medium, the colloids may be classified into two types: lyophilic colloids and lyophobic colloids.

Note:
* It should be remembered to you that colloidal systems in which the dispersion medium is a gas are called aerosols and colloids in which the dispersion medium is a solid are called gels.
* Also, you should remember that a colloidal system in which the dispersion medium is a liquid or gas are called sols. They are called hydrosols or aqua sols.