This visual trace shows how a function expression is created and used in JavaScript. First, a function without a name is assigned to a variable called 'greet'. This variable now holds the function. When we call greet('Alice'), the function runs with 'name' set to 'Alice'. It returns the string 'Hello, Alice!'. Finally, console.log prints this returned string. The function does not run when assigned, only when called. Variables change as the function runs, especially the parameter 'name' and the return value. This helps beginners see step-by-step how function expressions work.