Final answer:
Utility computing of the past and cloud computing of today both create the illusion of unlimited resources, which is true. This concept is an early example of how technology services can appear to offer infinite scaling despite the underlying reality that all resources are ultimately finite.
Step-by-step explanation:
The statement that utility computing of 50 years ago is similar to cloud computing today in that it was characterized by the illusion of unlimited resources is True. Utility computing, conceived in the 1960s and 1970s, was an early form of service provisioning that offered computing power and storage on a pay-per-use basis, much like today's cloud services.
Both paradigms give users the impression of infinite resources that can be scaled up or down according to demand. However, while the idea of resources appearing unlimited is a common trait, the underlying technologies and the scale at which these services now operate have evolved significantly.
It's important to note that, in the broader context, all resources are finite and cannot be considered unlimited in a literal sense. This fact aligns with the understanding of economy and market dynamics: a resource that is vital and limited will never become arbitrarily cheap, respecting common sense supply/demand notions. Advances in technology can make resources more accessible and appear more abundant to users, though they are not truly infinite.