I've simulated this circuit to modulate signals using a schematic I found on a forum.
The amplitude of the blue signal changes as the level of the green signal changes. So the information of the low frequency green signal is stored in the much higher frequency blue signal, that would then be transmitted.
The blue signal would typically be a mich higher frequency than here, but i made it lower to help visualize the modulation.
Really cool to see amplitude modulation happening in real time! :-D