What is a newly industrialized nation?

1) a country with an agrarian based economy, but social and political progress

2) a country with a more advanced economy, but not the same social and political progress

3) a country with industry and farming

4) a country with social and political progress, but lacking an advanced economic system

The correct option is 4.

Newly industrialized countries are defined as those countries whose economics have not yet reached a developed country status but have outpaced their developing counterparts in term of macroeconomic progress. They are also defined as countries who are undergoing rapid economic growth. One example of a newly industrialized country is Philippines.