Final answer:
The statement is true; arteries have thicker walls designed for high pressure, whereas veins have thinner walls and valves suited for lower pressure blood flow.
Step-by-step explanation:
The statement that veins contain less elastic tissue and smooth muscle than arteries and therefore cannot maintain blood flow and pressure as well is True. Arteries have thicker smooth muscle and connective tissue to accommodate the higher pressure of the blood pumped directly from the heart, while the structure of veins, having thinner walls and valves, is adapted to lower pressure and the assistance of skeletal muscle in returning blood to the heart.