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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.
Industrialized countries. Those countries including Britain, France, the United States, Russia, Germany, and Japan, that were all at the forefront of industrial production and innovation through the middle of the 20th century.et National Product. A measure of all goods and services produced by a country in a year, including production from its investments abroad, minus the loss or degradation of natural resource capital as a result of productivity.