Speed refers to the magnitude of motion, simply measuring how fast an object moves over time, while velocity encompasses both the magnitude and direction of that motion. This means two objects can have the same speed but different velocities if they move in different directions. Understanding this distinction is critical in physics, especially when analyzing kinematics or object interactions. Velocity, being a vector quantity, conveys more information about the object’s movement, which is essential for accurately predicting future positions and analyzing forces acting on the object.