英文問題, 如何表達

Yes! You are right! Both ways are actually correct to express the idea.

The only difference, though, is level of wordiness. (or you may say their lengths)

The first sentence is actually shorter than the second, so it is more readable to read. (It saves time as well.)

The second is also fine though. When we write essays or other homework, we shall try to use different sentence structures. Otherwise, if we also use first sentence's style, then it will become very dull and it may lower people's interest to continue to read your work.

你是說: We should value people's privacy, 對嗎?
通常我們形容一個人的 ___會用 's , 形容死物就用 ___ of ___
E.g.
John's leg (形容人)
The leg of the chair (形容死物)
但係調轉了也不是不對, 只是不乎合我們的 common practice.
所以你提出的兩句在文法上都正確, 但我會選擇前者 people's privacy.