Medicare is a social insurance program that serves more than 44 million enrollees (as of 2008). The program costs about $432 billion, or 3.2% of GDP, in 2007.
The definition of an institution is an established custom or practice, or a group of people that was formed for a specific reason or a building that houses the group of people. 1  Marriage is an example of a cultural institution. 2  A town council is an example of an institution of government.
credit institution definition, credit institution meaning | English dictionary. credit. 2 a person or thing serving as a source of good influence, repute, ability, etc. n the control of credit facilities as an instrument of economic policy, associated with restrictions on bank loans and overdrafts, raised interest rates, etc.