Could someone let me know what the best practice is for choosing between implementing something as a Taxonomy vs. a List field in the Content Type? Assuming that there is a preset list of values and there is no need for content creators to create their own.
For example, a Content Type of an "event" could be categorized based on audience or type. Audiences can be [Kids, Youth, Adults, Seniors, etc.]. Similarly, type would have a preset list as well.
Should audience or type be created as Taxonomy or a List field in the Content Type?