A developed nation is a country that: 1. Form of government (Democracy) 2. Free market economy 3. Lack of corruption 4. More dependent on manufacturing than on agriculture 5. Advanced/Abundant technology. A developing nation is a country that: 1.Has a low standard of living 2. Has an undeveloped industry 3. Lacks modern technology 4. Has low levels of education, healthcare, and life expectancy. A developed nation has reached the highest level of advancement for its people, life in these countries is really good. In a developing nation however, life is very difficult for its people. These nations have not reached the level of advancement developed nations reached.