Institution types refer to the various categories of organizations that serve specific functions in society. Common types include educational institutions, such as schools and universities, which provide learning opportunities; government institutions, which manage public services and governance; and financial institutions, like banks and credit unions, that facilitate economic transactions. Other institution types include nonprofit organizations, which aim to address social issues without profit motives, and healthcare institutions, such as hospitals and clinics, that deliver medical services. Each type plays a crucial role in maintaining the structure and function of society, contributing to its overall well-being and development.