The rate of change is the amount of change in one measurement divided by the amount of change in another measurement.
For example, speed is a rate of change: the change of distance divided by the change of time; or, how far you went divided by how long it took you.
For example, if you are on an interstate and you pass mile marker 100 at 2:00 and you pass mile marker 240 at 4:00, you traveled 140 miles (240 - 100) in 2 hours (4:00 - 2:00), so your speed (rate of change) is 140 miles / 2 hours or 70 miles per hour.
Another example is slope: slope is the change in y-values divided by the change in x-values. It's the rate of change of y (rise) as x changes (run).