An arrangement to receive something, typically a publication or service, regularly by paying in advance.

Explanation:

A subscription involves paying a recurring fee to regularly receive a product or service. This can include magazines, software services, streaming platforms, and other regularly provided goods and services.

Examples in Account:

• Subscribing to a monthly business magazine to stay updated on industry trends.
• Maintaining a software subscription for office productivity tools.
• Enrolling in a streaming service for entertainment or educational purposes.

FAQ:

• What are the benefits of a subscription model? Subscriptions provide a convenient, ongoing way to access products or services and often come at a reduced cost compared to one-time purchases.
• Can subscriptions be canceled? Most subscriptions allow for cancellations, though terms vary by provider. Typically, users can unsubscribe at any time before the next billing period.
• What types of services are commonly offered as subscriptions? Common subscription services include digital streaming, software, magazines, and various membership clubs.