Instruction Cycle

Fetch: Little Man finds out what instruction he is to execute
read the address from the location counter
walk over to the mailbox that corresponds to the location counter
And reads the number on the slip of paper (puts the slip back in case he needs to read it again later)

Execute: Little Man performs the work.
goes to the mailbox address specified in the instruction he just fetched.
reads the number in that mailbox (remember to replace it in case he needs it later).
walks over to the calculator and punches the number in and walk over to the location counter and clicks it, which gets him ready to fetch the next instruction.

(source: handbook 2003 John Wiley & Sons)