living-room set vs suite

living-room set and suite both are nouns.

Word	Noun	Adjective	Verb	Adverb
living-room set	Yes	No	No	No
suite	Yes	No	No	No

As nouns, suite is a hypernym of living-room set; that is, suite is a word with a broader meaning than living-room set:

living-room set (noun)	suite (noun)
a suite of furniture for the living room	apartment consisting of a series of connected rooms used as a living unit (as in a hotel)
	a musical composition of several movements only loosely connected
	the group following and attending to some important person
	a matching set of furniture