This document discusses cloud computing concepts including origins, definitions, characteristics, deployment models, service models, virtualization benefits, and economic principles. Specifically: - Cloud computing originated from telecommunications networks and focuses on abstracting internal components while defining overall architecture and interfaces. - Key characteristics include on-demand access to pooled resources over the network, rapid elasticity, and metered usage-based billing. - Virtualization provides abstraction between hardware and software for location-independent and flexible resource allocation. - Economic principles demonstrate how cloud computing can reduce costs compared to traditional fixed infrastructure models through pay-per-use pricing and scaling to fluctuating demand.