1) Cloud computing is a model that provides on-demand access to shared computing resources like networks, servers, storage, applications and services that can be provisioned with minimal effort.
2) There are three main service models of cloud computing: Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS).
3) SaaS provides applications, PaaS provides development and deployment tools, and IaaS provides basic computing and storage infrastructure.