List and Describe the Three Main Cloud Computing Service Models

question 1

Essay

List and describe the three main cloud computing service models, including what the customer and vendor manages for each one. If you were running your own business and wanted to use these models, how would you determine which one is best for the business?

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Definitions:

Economics

The social science that studies how individuals, governments, firms, and nations make choices on allocating scarce resources to satisfy their unlimited wants.

Signaling

The act of conveying information indirectly through actions or attributes, often seen in markets where there is information asymmetry.

Uninformed Party

An individual or group lacking critical information, often leading to a disadvantage in decisions or negotiations.

Moral Hazard

The situation where one party engages in risky behavior because they know another party bears the consequences of that risk.