What is the difference between private wealth and national wealth

Private wealth management is an investment advisory practice that incorporates financial planning, portfolio management, and other aggregated financial services for individuals, as opposed to corporations, trusts, funds, or other institutional investors. From the client's perspective, private wealth management is the practice of solving or enhancing their financial situation and achieving short-, medium-, and long-term financial goals with the help of a financial adviser.

“National wealth” refers to the total value of wealth possessed by the citizens of a nation at a specific point in time. It is the total value of wealth and goods generated by all economic activity in a given nation. The National Wealth is a useful framework through which to measure the progress of an economy and corresponding economic resources. It has a major effect on a nation’s capacity to generate income.

Explanation:

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1. government controls industry through policy

2.government is both a consumer and a producer

4. government can use policy t influence economy

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