A developed country or "more developed country" (MDC), is a
sovereign state that has a highly developed economy and advanced
technological infrastructure relative to other less developed
nations. Most commonly the criteria for evaluating the degree of
economic development are gross domestic product (GDP), the per
capita income, level of industrialization, amount of widespread
infrastructure and general standard of living. Which criteria
are to be used and which countries can be classified as being
developed are subjects of debate. Developed countries have post-
industrial economies, meaning the service sector provides more
wealth than the industrial sector. They are contrasted with
developing countries, which are in the process of
industrialization, or undeveloped countries, which are pre-
industrial and almost entirely agrarian. According to the
International Monetary Fund, advanced economies comprise 65.8%
of global nominal GDP and 52.1% of global GDP (PPP) in 2010. In
2011, the ten largest advanced economies