The Mundial Bank classifies a country as developed, developing and undeveloped according to the high, medium or low per capita income of its population.
Developed Country: It has a high develop level because it has a very good life quality in its population through high incomes, education, and sanity. Example: United States, Europe, Australia.
Developing Country: It has a medium develop level, it has scarcity in quality life because the incomes per capita aren’t enough and so there are low food levels. Example: Brazil, Russia, China.
Undeveloped Country: It doesn’t reach human developed either cultural nor economic. These countries are related to poverty and are called “Third world countries”. Example: Burundi or Sierra Leone
A developed country is an industrialized country with advanced technological infrastructure and high levels of income per capita, therefore an expanded and advance economy.
A developing country is generally an agricultural country with limited industrialization and low per capita income levels, seeking to become economically advanced.
And an underdeveloped country experiences extremely low living standards and deficient income per capita, caused by inadequate productivity levels and high growth population rates.
