Final answer:
Velocity describes both the speed and direction of an object, making it a vector quantity, whereas speed is a scalar quantity and does not include direction.
Step-by-step explanation:
Velocity differs from speed in that velocity describes the speed and direction of an object. Whereas speed is a scalar quantity, velocity is a vector quantity, meaning it includes both magnitude (how fast an object is moving) and direction. Thus, the correct answer to the question is that velocity describes direction with position. In terms of calculations, average speed is the total distance traveled divided by the time during which the motion occurs, and average velocity is the displacement divided by the time over which the displacement occurs. In applications such as physics problems involving motion, displacement and velocity are expressed as vectors, which in one-dimensional motion, can be indicated by a plus or minus sign to identify direction. The variable for velocity is represented as a bold v because it is a vector, in contrast to the italicized v used for scalar speed.