That's close, but not quite accurate! Here's the breakdown:

* Velocity is a vector quantity. This means it has both magnitude (how fast) and direction.

* Speed is the rate at which an object moves, and it's only concerned with magnitude (how fast).

Think of it this way:

* Speed: A car driving at 60 mph.

* Velocity: A car driving 60 mph north.

So, velocity is the change in both speed and direction, not just speed.

Let me know if you have any other questions!