The term developed country is used to describe countries that have a high level of development according to some criteria. Which criteria, and which countries are classified as being developed, is a contentious issue and there is fierce debate about this. Economic criteria have tended to dominate discussions. One such criterion is income per capita and countries with high gross domestic product The gross domestic product or gross domestic income (GDI) is a basic measure of a country's overall economic performance. It is the market value of all final goods and services made within the borders of a country in a year. It is often positively correlated with the standard of living, though its use as a stand-in for measuring the standard of (GDP) per capita being described as developed countries. Another economic criterion is industrialization Industrialisation is the process of social and economic change whereby a human group is transformed from a pre-industrial society into an industrial one. It is a part of a wider modernisation process, where social change and economic development are closely related with technological innovation, particularly with the development of large-scale. Countries in which the tertiary The tertiary sector of economy is one of the three economic sectors, the others being the secondary sector (approximately manufacturing) and the primary sector (extraction such as mining, agriculture and fishing). The general definition of the tertiary sector is producing a service instead of just an end product, in the case of the secondary and quaternary sectors of industry The quaternary sector of the economy is an extension of the three-sector hypothesis of industry. It principally concerns the intellectual services: information generation, information sharing, consultation, education and research and development. It is sometimes incorporated into the tertiary sector but some argue that intellectual services are dominate being described as developed. More recently another measure, the Human Development Index The Human Development Index is an index used to rank countries by level of "human development", which usually also implies whether a country is developed, developing, or underdeveloped, which combines with an economic measure, national income, with other measures, indices for life expectancy and education has become prominent. Developed countries being those with a high (HDI) rating. However, many anomalies exist when determining "developed" status by whichever measure is used.
Countries not fitting such definitions are classified as developing countries Developing country is a term generally used to describe a nation with a low level of material well being. There is no single internationally-recognized definition of developed country, and the levels of development may vary widely within so-called developing countries, with some developing countries having high average standards of living.
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