Servie model is something on which you host your applications.
Each of these service models require various levels of support and responsibilities once a system is deployed to the platform.
Some of the common service models are as follows:
To know about these you can go to the following resources:
Cloud computing providers offer their services according to three fundamental models: Infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS) where IaaS is the most basic and each higher model abstracts from the details of the lower models. Examples of IaaS include: Amazon CloudFormation (and underlying services such as Amazon EC2), Rackspace Cloud, Terremark, Windows Azure Virtual Machines, Google Compute Engine. and Joyent. Examples of PaaS include: Amazon Elastic Beanstalk, Cloud Foundry, Heroku, Force.com, EngineYard, Mendix, Google App Engine, Windows Azure Compute and OrangeScape. Examples of SaaS include: Google Apps, Microsoft Office 365, and Onlive
Cloud computing is an on-demand availability of compute resources and storage services .It basically provies different type of services :