The correct answer is: Only argument II is strong.
Argument I is not strong because it does not provide any evidence to support the claim that advertising is an essential concomitant in a capitalist economy. It is simply an assertion that advertising is necessary for capitalism to function. However, there is no reason to believe that this is the case. Capitalism can function without advertising, and in fact, there are many examples of successful businesses that do not spend a lot of money on advertising.
Argument II is strong because it provides evidence to support the claim that advertising leads to wastage of resources. Advertising is a form of waste because it does not produce anything of value. It simply creates a demand for products that people do not need. This demand is often created through the use of misleading and deceptive advertising techniques. As a result, advertising leads to people spending money on products that they do not need, which is a waste of resources.
In conclusion, only argument II is strong. Argument I is not strong because it does not provide any evidence to support its claim.