When an object accelerates, its velocity can change even if its speed remains constant, particularly in circular motion. This is because velocity is a vector quantity that includes both magnitude and direction, while speed is only a measure of magnitude. Examples such as a tetherball on a string or a car navigating a curve illustrate that constant speed can coincide with changing velocity. Acceleration encompasses speeding up, slowing down, or changing direction, which is crucial for understanding motion dynamics. Therefore, the distinction between speed and velocity is essential in physics.