$('#id').children(':selected').text();
$('#id option:selected').text()
$( "#myselect option:selected" ).text();
$("#id option:selected").text();
$("#city_id option:selected").text();
$("#mySelect option:selected").html();
$("#myDropdown option:contains(Option 2)").attr('selected', 'selected');
I think this should be $("#yourdropdownid").children("option").filter(":selected").text() since is() returns a boolean of whether the object matches the selector or not.
var conceptName = $('#aioConceptName :selected').text();
var conceptName = $('#aioConceptName :selected').val();