Which of the following is another term used for the utility billing method in cloud computing?

The term "pay-as-you-go" is widely recognized in cloud computing as a utility billing method because it allows users to pay only for the resources they consume over time. This model is advantageous for businesses as it provides flexibility and cost-effectiveness, enabling them to scale their usage according to their needs without a long-term commitment. Users are billed based on actual resource usage, which can be adjusted as their demands change, making it an appealing option for dynamic workloads or fluctuating consumption patterns.

This billing method is fundamental to the cloud service model because it aligns with the idea of utility services such as electricity or water, where consumers pay only for what they utilize. This contrasts with other payment models that may involve prepayment or fixed rates, which may not correlate as directly with usage.