This visual execution shows how a Hardhat deployment script runs step-by-step. First, the script loads the Hardhat Runtime Environment (hre) to access blockchain tools. Then it gets a contract factory for the contract named 'MyContract'. Next, it deploys the contract by sending a transaction and waits for the deployment to complete. After deployment, the contract address is available and logged to the console. Variables like 'contract' change from undefined to a deployment transaction object, then to a deployed contract instance with an address. Key points include using 'await' to wait for asynchronous steps and logging the address only after deployment finishes. The quiz tests understanding of these steps and variable states.