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A developed country, or advanced country, is a sovereign state that has a high quality of life, developed economy, and advanced technological infrastructure relative to other less industrialized nations.
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According to the International Monetary Fund, developed countries supplied over half of the global GDP in 2010. In 2012, the major advanced economies were the US, Japan, Germany, France, the UK, Italy, and Canada. These are also called the G7. The G7 has 10% of the world's population, but produces nearly 40% of the world's GDP. They also control ma...
Terms similar to developed country include advanced country, industrialised country, more developed country (MDC), more economically developed country (MEDC) (compared to less economically developed country(LEDC)), Global North country, first-world country, and post-industrial country.
Economic criteria are usually seen as most important. This includes income per capita (average money for each person). Countries with high GDP per capita and mature industrialization are described as developed countries. But modernization is not always seen as the only way to measure progress. Recently, another measure, the Human Development Index ...
International development or global development is a broad concept denoting the idea that societies and countries have differing levels of economic or human development on an international scale.
Apr 23, 2018 · A developed country is a sovereign state with high industrial and Human Development Index compared to other countries. It must also have a technologically advanced infrastructure, and its economy must be highly developed. It is also referred to as industrialized country or more developed country. Determining Factors.
Oct 22, 2020 · Any discussion of economic development – either implicitly or explicitly – contains the distinction between developed countries and developing (or under-developed) countries. While there are many theories on what promotes development and how best to achieve it, in all cases the goal is for a country to eventually become ‘developed’.
noun [ C ] ECONOMICS uk us. Add to word list. a country with a lot of industrial activity and where people generally have high incomes: Our sample came from a broad cross-section of the populations of developed countries. Compare. developing country. less-developed country. underdeveloped country.
Apr 16, 2024 · developing country, a country which, relative to other countries, has a lower average standard of living. There is no consensus on what defines a country as “developing” versus “developed,” but a variety of metrics have been applied to sort countries into these categories.
