I was able to figure out my problem.
The answer to the topic question is Yes, you are able to create and collect form submissions while on the “Lite” Account Plan.
Initially, I had built a form from scratch, but the form was not submitting my results. The reason was because of the type of “Button” element that I chose. In the Elements panel, I used the “Button” element under the “Basic” section. This type of button is just a link, but it is styled to look like a button.
Instead, for form submissions, you should use the “Form Button” element under the “Forms” section of the Elements panel. This button is an input field with the attribute
type="submit", which is required to submit forms in HTML.
Easy mistake to make, but problem solved!