1 $("#mySelect option:selected").html();

1$( "#myselect option:selected" ).text();

1$("select.your-select").change(function(){ 
2	$(this).children("option:selected").val();
3});

1$("select.country").change(function(){
2  var selectedCountry = $(this).children("option:selected").val();
3  alert("You have selected the country - " + selectedCountry);
4});

1$(document).ready(function(){
2    $("select.country").change(function(){
3        var selectedCountry = $(this).children("option:selected").val();
4        alert("You have selected the country - " + selectedCountry);
5    });

1 let payment_type = $("#olca_form_submit select[name='payment_type']")
2      .find(":selected")
3      .val();