What is the difference between velocity and displacement?

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Physlithium
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Well, I haven't really understand what's Velocity. It's like displacement is taking a shortcut, but what's velocity? What's initial velocity and the final velocity?
 
displacement is how far you are away from your starting point, your most direct distance
velocity is your displacement/time
v = s/t

initial velocity is your starting speed
final velocity is your end speed
 
Also velocity is a vector quantity so you have to give a direction such as 50 m/s North.