How To Toggle Variable Literal(Value) Using jQuery

How To Toggle Variable Literal(Value) Using jQuery

Can you please take a look at  This Demo  and let me know how I can toggle varible value from " ecolo " to " econo " using jQuery?
  1. <button id="model">Toggle Query</button> 
  2. <div id="result"></div>

  3. <script>
  4. var qtype= "econo";
  5. $("#model").on("click", function () {
  6.     qtype= "ecolo";
  7.     $("#result").html(qtype);
  8.  });
  9. </script>
Thanks