Final answer:
Instantaneous velocity is a vector with both magnitude and direction, while instantaneous speed is the magnitude of instantaneous velocity.
Step-by-step explanation:
Instantaneous velocity is a vector, which means it has both magnitude and direction. On the other hand, instantaneous speed is the magnitude of instantaneous velocity and only represents the numerical value without any direction. In other words, instantaneous speed is the absolute value of instantaneous velocity. For example, if an object is moving with an instantaneous velocity of -10 m/s, its instantaneous speed would be 10 m/s.