Check these articles to get the full information from the official Android developers blog.
Android Developers Blog: Content Rating for Android Market: "[This post is by Eric Chu, Android Developer Ecosystem. —Tim Bray]
Providing users with more information about applications on Android Market has been a top request from Android users. Starting in a few weeks, we will be showing content ratings for all applications on Android Market. This new capability will provide users with additional information to help them select the best applications for them.
Android Market’s content policy remains the same as before: applications will be rated according to four content rating levels: All, Pre-teen, Teen, & Mature. Details on the rating levels can be found at Android Market Help Center. [...]"
And here is an overview:
Rating your application for Android Market:"[...]There are four levels to content ratings:
Apps that include references to drugs, alcohol or tobacco products or their use should be rated “Teen” or above. Apps that focus on the consumption or sale of drugs, alcohol or tobacco should be rated “Mature”. Illegal activity or content that is targeted at minors is not allowed in Android Market.
Apps with gambling themes or that include simulated gambling should be rated “Teen” or above. Real gambling is not allowed in Android Market.
Hate speech is not allowed in Android Market. If your app includes inflammatory content that may be offensive to many users, please rate it “Teen” or above.
Applications rated “All” should not ask users for their location at any point. Apps that ask to access course or fine location data should be rated “Pre-Teen” or above. Apps that enable users to publish or share their location with others should be rated “Teen” or above.
Profanity and Crude Humor
Apps that include profanity or crude humor should be rated “Teen” or above.
Sexual and Suggestive Content
Apps that include suggestive or sexual references should be rated “Teen” or above. Apps that focus on such content should be rated “Mature”. Pornography is not allowed in Android Market.
User Generated Content and User to User Communication
Apps rated “All” should not host any user generated content or enable communication between users. Apps that focus on allowing users to find and communicate with each other should be rated “Teen” or above.
Apps that include mild cartoon or fantasy violence should be rated “Pre-Teen” or above. Realistic or intense fantasy violence should be rated “Teen” or above. Graphic violence should be rated ‘“Mature”. Gratuitous real violence is not allowed in Android Market."