The consumption-based model means consumers have to pay only for resources that they are using, so no upfront costs are involved.

The consumption-based model means consumers have to pay only for resources that they are using, so no upfront costs are involved.

A volume licensing is the practice of selling a license authorizing one computer program to be used on a large number of computers or by a large number of users. For example, Microsoft software available through volume-licensing programs includes Microsoft Windows and Microsoft Office.

As you can create or delete resources at any time, so there is no wastage of resources

consumption-based(pay-as-you-go) model, means customers have to "only pay for the resources that they are using".

Read more AZ-900 at AZ-900 CHEATSHEET

In SaaS, service provider is responsible for managing components.

Read more about IaaS, Paas & SaaS at What is IAAS, PAAS & SAAS ?​

Database as a Service is a part of Infrastructure as a Service. But here question asked for VM not database.

Read more about IaaS, Paas & SaaS at What is IAAS, PAAS & SAAS ?

PaaS makes for a flexible development platform where the customer can focus on development rather than being concerned with managing the underlying platform.

Read more about IaaS, Paas & SaaS at What is IAAS, PAAS & SAAS ?

VM is bascally a server which is a part of IT Inrastructure. Thus it is a part of IAAS.

Read more about IaaS, Paas & SaaS at What is IAAS, PAAS & SAAS ?

VM is bascally a server which is a part of IT Inrastructure. Thus it is a part of IAAS.

SLA for Virtual Machines

Last updated: July 2020

• For all Virtual Machines that have two or more instances deployed across two or more Availability Zones in the same Azure region, we guarantee you will have Virtual Machine Connectivity to at least one instance at least 99.99% of the time.
• For all Virtual Machines that have two or more instances deployed in the same Availability Set or in the same Dedicated Host Group, we guarantee you will have Virtual Machine Connectivity to at least one instance at least 99.95% of the time.
• For any Single Instance Virtual Machine using Premium SSD or Ultra Disk for all Operating System Disks and Data Disks, we guarantee you will have Virtual Machine Connectivity of at least 99.9%.
• For any Single Instance Virtual Machine using Standard SSD Managed Disks for Operating System Disk and Data Disks, we guarantee you will have Virtual Machine Connectivity of at least 99.5%.
• For any Single Instance Virtual Machine using Standard HDD Managed Disks for Operating System Disks and Data Disks, we guarantee you will have Virtual Machine Connectivity of at least 95%.

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For all Virtual Machines that have two or more instances deployed across two or more Availability Zones in the same Azure region, we guarantee you will have Virtual Machine Connectivity to at least one instance at least 99.99% of the time.