Value from Select Box

Value from Select Box

Hello Everyone,

First time posting or even using jQuery.  However, I've made my way through my code enough that I am at a crossroads.  Here is my issue.  I have a select box with a given number of options (duh)... anyway here is how I have it coded to help keep things uniformed for hiding and showing of these items

<select id = "select1">
      <option value="0"> </option>
      <option value="1">Option 1</option>
      <option value="2">Option 2</option>
and so on... </select>

Here is the my problem every time I call the following so i can put it into the text area it comes up as the value not the tag or option name that follows the value

"$('#select1').val()"  (This is returning 0, 1, or 2)

I have a feeling that I should be doing something different to capture <option>(THIS PART HERE)</option> but I keep running into road blocks.  Is it as simple as .getelementbyid, or am I still on the wrong path?  I should also ask if I would have to do something similar for checkboxes whose values are set in the same way.

Any help would be appreciated, let me know if you need me to create a jfiddle as I have seen many people ask for.