Final answer:
The passage indeed contains an argument that suggests a decline in the quality of public education could lead to more students opting for private education alternatives. The given passage is true.
Step-by-step explanation:
The passage provided contains a claim that if the quality of public education does not improve, it will result in the loss of students to private sector education. This statement does prognosticate a future scenario based on the current conditions, which is essentially making an argument.
Furthermore, the excerpt taps into the larger discussion on whether public provision or private provision of education serves the educational needs of students more effectively. This debates the efficacy of public versus private education regarding outcomes like quality, efficiency, and equity. It also considers how different mechanisms such as vouchers, charter schools, and incentives for schools and teachers may lead to improved educational performance.
Therefore, the correct answer to whether the passage contains an argument is True.