Concept:
Circular motion refers to the motion of an object along a circular path.
• If the speed remains constant, the motion is called uniform circular motion.
• If the speed changes during motion, the motion is called non-uniform circular motion.
In non-uniform circular motion, both the magnitude and direction of velocity change with time.
Step 1: Understand the condition given in the question.
The question states that the speed of the object is not constant.
Step 2: Identify the type of circular motion.
When speed changes during circular motion, it is known as:
\[
\text{Non uniform circular motion}
\]
Hence, the correct answer is:
\[
\boxed{(B)\ \text{Non uniform circular motion}}
\]