What term describes goods and services owned by entrepreneurs in the private sector?

The term that describes goods and services owned by entrepreneurs in the private sector is "private wealth." This concept refers specifically to the resources, assets, and income that individuals or businesses have acquired and own, which are distinct from resources owned by the government or the public sector. Private wealth is significant in an economy as it reflects the overall health and potential for growth within the private sector, which can lead to innovations, job creation, and increased economic activity.

In contrast, national wealth encompasses all wealth within a country, including both private and public assets, while social wealth typically refers to collective resources that benefit society as a whole. Public wealth relates to assets owned by the government or state, which are intended for public use or benefit. Each of these other terms describes different aspects of wealth in an economy but does not specifically refer to what individuals or entrepreneurs possess in the private sector.