Videography: capture
Videography refers to the filming itself. A videographer shows up, captures footage, and hands it off, often a solo operator at an event, a presentation, or a single-camera interview. The deliverable is footage, sometimes with a light edit.
Video production: the whole process
Video production is the end-to-end process around the footage: defining the goal, pre-production (story, scripting or a question framework, scheduling, location scouting), the shoot with a crew and a director, and post-production (editing, color, sound, music). Videography is one step inside production.
When you need which
If you need a record of an event or a quick single-camera capture, a videographer is enough. If you need a video that has to accomplish something (a brand film, a customer story, a recruitment piece), you need production, because the strategy and the edit are where those videos are won or lost.
Why the distinction affects price
A solo videographer for a few hours is the cheapest option, and for the right job it is the correct one. Production costs more because you are paying for strategy, a crew, directing, and serious post. The mistake is hiring videography when the job actually needs production, and ending up with footage nobody can turn into a usable video.