You have decided to no longer purchase word processing software for your computer and now only use an online version of word processing that is accessed through a web browser. What cloud service model is this an example of?
Software as a service (SaaS) is a cloud service model where a user/company accesses a piece of software through a web browser over the Internet versus installing the software locally on their system.
Wikipedia
Cloud computing is the on-demand availability of computer system resources, especially data storage (cloud storage) and computing power, without direct active management by the user. Large clouds often have functions distributed over multiple locations, each of which is a data center. Cloud computing relies on sharing of resources to achieve coherence and typically uses a pay-as-you-go model, which can help in reducing capital expenses but may also lead to unexpected operating expenses for users.