It wasn't the same in previous versions, but in AX 2012, you're getting access all modules provided by Microsoft (ISVs selling their own extensions can choose any license policy they like). You're buying "levels of access" - cheaper access licenses (e.g. Task CALs) have access to less functionality than more expensive CALs (e.g. Enterprise). It's across modules in all cases. You might want to read my blog post Dynamics AX 2012 licensing - details gave changed since I wrote it, but it's fundamentally still the same. Also look at Microsoft Dynamics AX 2012 R3 Licensing Guide . By the way, your title asks what's "Dynamics", not "Dynamics AX". The answer would be very different, because "Dynamics" includes other products such as Dynamics CRM and Dynamics NAV.
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