The speaker and the "beeper" are two separate devices.  The speaker is optional.

On some there is both the beeps and diagnostic lights.  On others its only the beeps or diagnostic lights.

The beeps are more detailed on what the possible problem is.

The internal business speaker provides actual sound. 

Thank you: since that's the case I'd rather not have it. 

Thank you. It does not have the internal speaker yet I don't need it.