Industrialization is the process of undergoing an Industrial Revolution. The revolution is best recognized for its occurrence in Europe and North America in the 1700s and 1800s. But, not all the world experienced it at the same time. Many countries in the so-called "third world" still haven't experienced Industrialization.
In an non-industrialized economy: most products are made by hand, products are individualized (not interchangeable), a majority of the population lives in rural areas, a majority of people work in agriculture.
Factories replace artisans, machines replace hand labor, cities grow in population as farms shrink. Services to meet the needs of those who maintain the machines spring up.
In an industrialized economy: most products are made by machines in factories, products are interchangeable, a majority of the population works in either manufacturing or services, and a majority live in urban areas.