Is it correct to refer to speed limit signs instead of velocity limit signs and why?

Yes, it is correct to refer to speed limit signs instead of velocity limit signs because "speed" specifically refers to how fast an object is moving, regardless of its direction, while "velocity" includes both speed and direction. Traffic regulations focus on the rate of motion rather than the directional aspect, making "speed limit" the appropriate term for these signs. Additionally, using "speed" is more widely understood by the general public.