Great question !
The rate at which an object covers distance, without worrying
about the direction it's moving, is the object's SPEED .
When the direction is also given, then you have the object's VELOCITY.
This question is important. It gives us a chance to point out that
"velocity" is not just a fancy word for speed that you use when you
want to sound smart. There's actually an important difference between
'speed' and 'velocity'.