WORLD HISTORY

Detailed explanation-1: -Countries are divided into two major categories by the United Nations, which are developed countries and developing countries. The classification of countries is based on the economic status such as GDP, GNP, per capita income, industrialization, the standard of living, etc.

Detailed explanation-2: -A developed country-also called an industrialized country-has a mature and sophisticated economy, usually measured by gross domestic product (GDP) and/or average income per resident. Developed countries have advanced technological infrastructure and have diverse industrial and service sectors.

Detailed explanation-3: -Countries may be classified as either developed or developing based on the gross domestic product (GDP) or gross national income (GNI) per capita, the level of industrialization, the general standard of living, and the amount of technological infrastructure, among several other potential factors.

Detailed explanation-4: -The main difference between developed developing and underdeveloped countries is their economic status and quality of life. Developed countries have a high quality of life, developed economy, and technological infrastructure.

Detailed explanation-5: -Accordingly, countries have been grouped as high-income, upper middle income, lower middle income and low-income (table E). To maintain compatibility with similar classifications used else-where, the threshold levels of GNI per capita are those established by the World Bank.