Definition of Cloud computing and Virtualization

There are two published definitions of cloud computing. Here are the highlights: 

NIST – On-demand self-service, Ubiquitous network access (internet standards based), location independent resource pooling, rapid elasticity, and measure/metered service 

Gartner – service-based, scalable and elastic, shared, metered by use, and uses internet technologies 

Virtualization: 
Virtualization is the use of virtual machines to let multiple network subscribers maintain individualized desktops on a single, centrally located computer or server. The central machine may be at a residence, business or data center. Users may be geographically scattered but are all connected to the central machine by a proprietary local area network (LAN) or wide area network (WAN) or the Internet