It is a style of computing in which IT-related capabilities are provided "as a service", allowing users to access technology-enabled services from the Internet ("in the cloud") without knowledge of, expertise with, or control over the technology infrastructure that supports them.(WIKIPEDIA)
So in broader sense we can say:
- Infinite computing resource
- Available on demand
- Pay per use
- Delivered across the Internet
For ex gmail is not a cloud computing service .From the end-user perspective it's a hosted application, it's software as a service (SaaS)
for more information on CLOUD COMPUTING try this: