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DEFINITION of 'Industrialization'. The process in which a society or country (or world) transforms itself from a primarily agricultural society into one based on the manufacturing of goods and services.
Full Text. An industrialized country, also commonly referred to as a developed country, is a sovereign state with a highly developed economy relative to other nations. Most commonly, the criteria used to evaluate a country's level of development is its gross domestic product (GDP) per capita. One measure of a nation's level of development is the Human Development Index (HDI), a statistical measure developed by the United Nations that gauges a country's level of human development.