The given flowchart represents a program that calculates the power of a given base number. Let's trace the flowchart step by step to understand its function:1. START: The program begins here.2. Base = 2: The variable "Base" is assigned a value of 2. This is the base number for which we want to calculate the power.3. Power = 4: The variable "Power" is assigned a value of 4. This represents the exponent or power to which the base will be raised.4. Product = Base: The variable "Product" is initialized with the value of "Base" (2 in this case). This will be the starting point for the multiplication.5. Counter = 1: The variable "Counter" is set to 1. It will be used as a counter to keep track of the multiplication iterations.6. Counter < Power: This condition checks whether the value of "Counter" is less than "Power" (4 in this case). Since the value of "Counter" is 1, this condition is true, and we proceed to the next step.7. N: This represents the "No" branch of the condition. If the condition in step 6 is false, the program would jump to the "N" branch and continue from there. However, since the condition is true, we skip this branch and continue to the next step.8. Y: This represents the "Yes" branch of the condition. Since the condition in step 6 is true, the program proceeds to this branch.9. Print Product: The current value of "Product" is printed. In this case, it would be 2, as it's the initial value of the base.