Generalized capacitor (inductor) is constitutively modeled by expressing charge (magnetic flux) in terms of voltage (current) memory as a sum of instantaneous and power type hereditary contributions and it is proved to be a dissipative electric element by thermodynamic analysis. On the contrary, generalized capacitor (inductor) as a generative electric element is modeled using the same form of the constitutive equation, but by expressing voltage (current) in terms of charge (magnetic flux) memory. These constitutive models are used in transient and steady state regime analysis of the series RC and RL circuits subject to electromotive force, as well as in the study of circuits' frequency characteristics including asymptotic behavior.