Yes, you are correct. It turns out that velocities have more that just a size. They also have a direction. For example, a statement correctly stateing a velocity would say, "The velocity equals 25 meters per second North ." Notice that two things are necessary to state a velocity, as magnatude, that is, 25 meters per second, and a direction, North. This is how you talk about velocities when you are studying physics. The size of the velocity is called the speed. So, we would say that velocity is made up of a speed and a direction. Quantities like this, that have magnatudes and directions, are called vectors.