How to get selected value/Text of a drop down's item using jQuery?

In this below script,get selected value/Text of a drop down's item using jQuery

<script src="https://ajax.googleapis.com/ajax/libs/jquery/2.1.1/jquery.min.js"></script>

<script src="text/javascript">

$(document).ready(function(){ 

  

    alert($('#cmb_Type:selected').text());

 

});</script>

<select id="cmb_Type">

  <option value="1">Test 1</option>

  <option value="2">Test 2</option>

</select>

var dtype = $('select[Title^="cmb_Type"] option:selected').val();
var dtype = $('select[Title^="cmb_Type"] option:selected').text();

 $('#cmb_Type option:selected').val();

 $('#cmb_Type option:selected').text();