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Speed is ignorant of direction. On the other hand, velocity is a vector quantity; it is direction-aware. Velocity is the rate at which the position changes.
Like other vectors, velocity can be represented by an arrow. The length of the arrow represents speed, and the way the arrow points represents direction.
If two objects are moving at the same speed and in the same direction, they have the same velocity. If two objects are moving at the same speed but in different directions, they have different velocities. If two objects are moving in the same direction but at different speeds, they have different velocities.
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