Consider the following statements about socialism:
(A) Socialism stands for equality
(B) Socialism stands for the collective ownership of private property
(C) Socialism stands for the elimination of competition
(D) Socialism aims at the elimination of capitalism
Choose the correct answer from the options given below:

Correct option is D

Socialism as an ideology; has traditionally been defined by its opposition to capitalism and the attempt to provide a more humane and socially worthwhile alternative. At the core of socialism is a vision of human beings as social creatures united by their common humanity. The central and some would say defining value of socialism is equality, especially social equality.
Socialism is an economic system where the means of production are owned by the community as a whole. Community members share equally in the benefits generated by these resources. Hence,Socialism emphasizes the need for collective ownership of resources. This means that resources are owned and controlled by the community, rather than by individuals.
Socialism aims to create a society where everyone has an equal say in decisions made about how resources are used. This means that everyone has an equal opportunity to fulfill their needs and wants.

Therefore , All A,B,C,D statements are correct .