Final answer:
The oxygen system possesses a lower rate of ATP production but its capacity for total ATP production is much greater is False.
Step-by-step explanation:
The statement 'The oxygen system possesses a lower rate of ATP production, but its capacity for total ATP production is much greater' is False.
Aerobic respiration, which uses oxygen, is able to produce a much higher total amount of ATP compared to anaerobic respiration. Although anaerobic respiration produces ATP more quickly, it is limited in its capacity for total ATP production.