smart set vs society

smart set and society both are nouns.

Word	Noun	Adjective	Verb	Adverb
smart set	Yes	No	No	No
society	Yes	No	No	No

As nouns, smart set and society are synonyms defined as:

Other synonyms of smart set include beau monde, bon ton, high society.

smart set (noun)	society (noun)
the fashionable elite	an extended social group having a distinctive cultural and economic organization
	a formal association of people with similar interests
	the fashionable elite
	the state of being with someone