javascript code to retrive a value and text from a dropdown list

javascript code to retrive a value and text from a dropdown list

<script>
function GetSelectedItem()
{
    var z = document.getElementById("select1");
    var x = z.options[z.selectedIndex].value;
    var y = z.options[z.selectedIndex].text;
    alert("selected value is "+x);
    alert("selected text is "+y);

}
</script>

<div>
    <select id="select1">
        <option value="1">test1</option>
        <option value="2">test2</option>
        <option value="3">test3</option>
    </select>
    <br/>
    <button onClick="GetSelectedItem();">Get Selected Item</button>
</div>