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The video discusses the calculation of average speed using the formula distance divided by time, and notes that it is important to use the average value since the speed may not have been constant. It also highlights that the standard unit of speed is kilometers per hour, while the standard unit of distance is meters. The concept of velocity is introduced as a measure of the changes in position of an object, with direction specified, and the formula for calculating velocity is given as displacement divided by time. The standard unit of velocity is meters per second.
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