Question

Markets exist wherever _____ and _____ exchange goods and services.

Answer 1

Markets exist wherever Buyers and Sellers exchange goods and services. 

Answer 2

The correct answer is: "producers and consumers".

Markets are constituted by the interactions of economic agents (individuals/households, firms and public sectors) who act either as producers and consumers. These agents exchange products and services to satisfy the needs of the consumers. The mentioned products are manufactured by the first with the aim of maximizing profits.