Final answer:
Serverless computing is the cloud execution model where the cloud vendor manages the servers and resource allocation, allowing users to run applications without infrastructure management.
Step-by-step explanation:
The correct answer is Serverless computing. This cloud computing execution model allows you the flexibility to build and run applications and services without having to manage infrastructure. Your application still runs on servers, but all the server management is done by the cloud provider. In a serverless architecture, the cloud provider dynamically manages the allocation of machine resources based on the volume of requests the application receives, thus making it highly scalable and efficient. Functions as a Service (FaaS) is a category of serverless computing that allows developers to execute code in response to events without the complexity of building and maintaining infrastructure.